Maricopa seeing a growth in flipping homes
Dec 5, 2012, 4:57 PM | Updated: 4:57 pm
The housing market in Maricopa is unlike any other in the state, with more people buying and flipping residences.
According to Business Insider, the city of Maricopa has seen a 140 percent year-over-year increase for housing permits.
They also are seeing houses being bought and then re-listed at higher prices, some within as short as six months.
Maricopa, which has a population of 45,000, has over a 37 percent year-over-year increase, according to Zillow’s home value index.
There has been an abundant of homes for sales in the city, which is a 40 minute drive from Phoenix. There has been 1,500 sales in the past 12 months.
The surge of home sales in Phoenix is coming from cash-rich investors and second-home buyers, essentially driven by non-Phoenicians.
