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Maricopa seeing a growth in flipping homes

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.