An Empirical Analysis of Residential Property Flipping

An Empirical Analysis of Residential Property Flipping Beginning with a time-dependent definition of a house flip, the analysis examines flipping activity in Las Vegas from 1994 through mid-2007. We find that flip homes tend to be older and smaller than non-flip homes. Moreover, as the residential property market in Las Vegas begins to take off, flip homes become a more significant percentage of total sales. At the height of the housing boom in 2004, a typical flip produces an annual rate of return exceeding 60%. Even after adjusting for opportunity costs, this translates to economic profits of nearly 20%. However, shortly thereafter, the frenetic pace of the market begins to subside, and by 2007, economic returns to a flip fall to 0. The Journal of Real Estate Finance and Economics Springer Journals

An Empirical Analysis of Residential Property Flipping

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Springer US
Copyright © 2009 by Springer Science+Business Media, LLC
Economics; Regional/Spatial Science; Financial Services
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