Calgary tops Canada in house flipping frenzy

Calgary is experiencing a red-hot house flipping market, with 7.6% of homes resold within 12 months of purchase, the highest rate in Canada. Edmonton follows at 5%, while major cities like Toronto and Vancouver lag at just 1%.

Lower housing prices and an influx of new residents seeking move-in ready homes are driving the trend.  Flippers are capitalizing on the demand, renovating and reselling for profit.

However, experts caution that flipping comes with risks. Hidden problems and budget overruns can quickly erode profits.

“Be careful what you’re buying,” advised veteran flipper Neritan Gremshi. “A lot of surprises [hide] behind the walls.”