ORLANDO, Fla. - Two Florida metro areas were among the leaders last year in house flipping, according to a new report.
The research firm RealtyTrac said Thursday that Tampa and the Daytona Beach metros had among the nation's highest rates of people purchasing homes and then selling them within a year.
That practice is known as "flipping."
RealtyTrac says more than 9 percent of the homes sold in the Tampa and Daytona Beach metro areas were flips. Only Memphis, Tennessee; Fresno, California; and Las Vegas had higher rates.
Nationwide, about 5.5 percent of all home sales were flips. Among states, Florida had the second-highest rate, only behind Nevada.
Almost 9 percent of home sales in Nevada were flips, while 8 percent in Florida were flips.