House flipping has been on the rise.
Buying and selling a home within six months accounted for 5.83 percent of all single-family sales in Miami-Dade County in 2013 and 5.82 percent in Broward County, according to RealtyTrac.
In Miami-Dade, the number of house flips increased 23 percent in 2012, and rose 12 percent year over year in Broward, the Irvine, Calif.-based data firm said.
Nationally, home flipping accounted for 4.6 percent of all single family home sales in 2013, up from 4.2 percent in 2012 and 2.6 percent in 2011, RealtyTrac said.
Rising prices and the availability of distressed properties make flipping more viable.
“Strong home price appreciation in many markets boosted profits for flippers in 2013 despite a shrinking inventory of lower-priced foreclosure homes to purchase,” RealtyTrac’s vice president, Daren Blomquist, said in a statement.