Total housing units: 1,776,467
Single family flips: 10,589
Average pre-flip purchase price: $146,527
Average flipped price: $210,289
Also known as the "Valley of the Sun," the Phoenix area is the sixth-most populous metro in the country, and Phoenix is the most populous US state capital. Home prices in Phoenix have jumped 22.5 percent over the past year (the biggest year-over-year jump in the US), and inventory is tightening. The foreclosure rate, too, has dropped sharply over the past year, from 2.7 percent a year ago to 1,2 percent in April 2013.
Phoenix had by far the largest number of flips on the list, at 10,589. The next-highest total was Las Vegas, with 4,341 flips.
