The Fresno Bee recently reported that Fresno has made the list of the highest performing housing markets nationwide, based on new data out of Clear Capital, a real estate data firm. Clear Capital lists the top 15 housing markets based on changes in home price over the last quarter. Back in 2011, Fresno was on Clear Capital’s list of the lowest performing cities. Today, Fresno stands among a grand total of nine California cities on the top performers list.
Compared to the last quarter of 2013, the metropolitan area of Fresno saw a 2% increase in home prices in the first quarter of this year. That increase put Fresno seventh on Clear Capital’s list of top 15 cities. Other California cities that made the list included San Francisco, Sacramento, San Jose, Los Angeles, and San Diego.
Residents of Fresno are particularly proud of the progress their city has made since 2011, when Fresno was number five on the list of lowest performing housing markets. The reasons for the improvement in Fresno and around the state of California are varied. Construction on new homes is still slow, so the amount of homes currently on the market is much lower than it usually would be. Additionally, increased confidence in the housing market is bringing more buyers to the marketplace. Buyers are interested in Fresno in particular thanks to its small-town feel and substantially lower prices than areas like San Francisco or Los Angeles.
House flipping professionals working in the Fresno area are pulling in excellent returns on their investments. If you haven’t already considered Fresno as an area for fix and flip investing, add it to your list. According to Zillow, the median home price in Fresno is just over $162,000, and home prices have gone up 14% over the past year alone. Zillow predicts that home prices will go up another 6.6% within the next year. With home prices so low, Fresno is a great place to make your first house flipping investment or to spread your equity over multiple rehab properties.
Learn more about fix and flip opportunities in Fresno, or inquire about our current fix and flip financing by contacting ZINC Financial today at 559.326.2509.