Report: Property Flippers Bolster House Sales in Q1

May 8, 2015 — A report published by housing analytics company RealtyTrac shows that, as many of you may have guessed, lucky folks who buy and flip property in New York City stand to reap among the greatest profits. "The strong returns of home flippers in the first quarter demonstrate that there is still a need in this recovering real estate market for move-in ready homes rehabbed to more modern tastes," said Daren Blomquist, vice president at RealtyTrac. The report found that property flippers in New York, Northern New Jersey, and Long Island had an average return of investment of 47.1%. Additionally, home flips made up 3.7% of all sales in the New York and New Jersey metro area. Click Read More to view chart and video.