CHARLOTTE, N.C. — Despite possible signs of cooling in the housing market, Charlotte remains a hot spot for home-flippers, according to Realtor.com. Per the site’s report on the nation’s best cities for flippers, the Queen City ranks No. 2, trailing only its perennial rival — Raleigh.
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Realtor.com’s researchers looked at home sales in the 200 largest metropolitan areas for July, August, and September 2018 and compared them with the same period a year prior. It defined a home flip as any type of home bought and resold within a three- to 12-month period and included only those that sold for more than the purchase price. (Deals that ended in foreclosure were excluded.)
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[ [Which Charlotte-area neighborhoods post the hottest housing markets?] ]
The number of flipped houses in Charlotte increased 42.5% for the period, according to the report.
[LINK: Case-Shiller Home Price Index]
The report cites Honeywell Inc.’s upcoming relocation of its headquarters to Charlotte as a factor in attracting new residents who are looking to buy a move-in ready home.
The Realtor.com report pegs Raleigh’s increase in house flips at 63.4%.
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