If you need assistance, please call 702-476-0060

House flippers buy more houses in Las Vegas, USA

Thursday, September 9, 2021   /   by Ken Couture

House flippers buy more houses in Las Vegas, USA

House flippers buy more houses in Las Vegas USA.png
Southern Nevada has seen “iBuyers” grab a bigger chunk of the market in recent months amid a broader surge of investors snapping up homes, a new report shows. 
U.S. real estate firms that ventured here and elsewhere in recent years to flip houses purchased 532 homes in the Las Vegas area in the second quarter, up from 296 in the first quarter, according to listing site Zillow, itself one of the buyers. 
The four companies tracked for the report accounted for 4 percent of purchases in Southern Nevada last quarter, up from 2.5 percent in the prior period, Zillow reported. 
Nationally, the firms picked up 15,028 homes in the second quarter, comprising 1 percent of all purchases, compared to 7,056 in the first quarter, or 0.6 percent of purchases. 
Fueled by low borrowing costs and more outofstate buyers than usual, Las Vegas housing market has seen recordhigh prices and rapid sales for months. 
By all accounts, it has been an extreme seller`s market, meaning flippers can face hefty competition when buying but also cash in on ripe conditions when selling. 
Zillow said it compiled the report by tallying up its own deals and those by Opendoor, Offerpad, and Redfin. It also said that iBuyers, or instant buyers, make “light repairs” on the homes they purchase and then “quickly resell” them. 
The four companies pitch an easy path to selling through their websites, where people can upload information about their homes to get an offer. 
Offerpad says it will make an offer “within 24 hours;” Redfin says people can “sell directly to us, for cash,” with no showings, repairs, or surprises; and Zillow says it will also make a cash offer, also with no showings, repairs to managing, or surprises. 
“Get an offer in minutes, sell in a matter of days,” Opendoor declares. 
Their increased purchases come as investors overall have bought more homes around the country, especially in Southern Nevada. 
Residential real estate investors acquired 3,043 homes in the Las Vegas area in the second quarter, up roughly 279 percent from the same period last year when sales overall dropped in the early months of the pandemic, according to Redfin, which, like Zillow, is best known as a listing site. 
Investors accounted for nearly 23 percent of all home purchases in Southern Nevada last quarter, Redfin reported. 
Overall, the total number of investor purchases in Southern Nevada was fifth among the 41 metro areas listed in the report, and investors` share of the market here was fourth-highest nationally. 
Moreover, the year over year percentage change in purchases here was by far the highest, with Chicago a distant second at nearly 209

Follow us on:

FB: Ken Couture Realty Your Home Sold Guaranteed

IG: @kencouturerealtylv

Twitter: Ken Couture

Pinterest: Ken Couture

LinkedIn: Ken Couture Your Home Sold Guaranteed


Contact us at:



Your Home Sold Guaranteed Realty
Ken Couture
8367 W Flamingo Rd Suite 101
Las Vegas, NV 89147

UP5DB701E1507748.jpgThe data relating to real estate for sale on this web site comes in part from the INTERNET DATA EXCHANGE Program of the Greater Las Vegas Association of REALTORS® MLS. Real estate listings held by brokerage firms other than this site owner are marked with the IDX logo. The information being provided is for the consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. GLVAR MLS deems information reliable but not guaranteed. Copyright 2023 of the Greater Las Vegas Association of REALTORS® MLS. All rights reserved.
This site powered by CINC: www.cincpro.com