Dallas Texas Flip Statistics

8 Replies

DFW: 7.7% Of Home Sales Were Flips In First Quarter 2018

DALLAS (Dallas Morning News) – Dallas-Fort Worth ranked ninth among the cities with the most home purchases and quick resales in first quarter 2018, according to Attom Data Solutions.

More than 1,200 home flips were counted in the Metroplex, comprising 7.7% of total home purchases. Local flips were up 2 percent year over year.

On average, North Texas flippers sold their flips for $244,811, making a gross profit of $44,811, or more than 22 percent.

Phoenix had the most number of flips with 2,486 in first quarter 2018. That makes up 10.3% of homes sold. New York, Miami, Los Angeles, and Atlanta metros rounded out the top five.

Over 48,000 homes were flipped nationally, accounting for just under 7% of total U.S. home purchases.

Originally posted by @Jim Cummings :

DFW: 7.7% Of Home Sales Were Flips In First Quarter 2018

DALLAS (Dallas Morning News) – Dallas-Fort Worth ranked ninth among the cities with the most home purchases and quick resales in first quarter 2018, according to Attom Data Solutions.

More than 1,200 home flips were counted in the Metroplex, comprising 7.7% of total home purchases. Local flips were up 2 percent year over year.

On average, North Texas flippers sold their flips for $244,811, making a gross profit of $44,811, or more than 22 percent.

Phoenix had the most number of flips with 2,486 in first quarter 2018. That makes up 10.3% of homes sold. New York, Miami, Los Angeles, and Atlanta metros rounded out the top five.

Over 48,000 homes were flipped nationally, accounting for just under 7% of total U.S. home purchases.

 I curious what the vacancy rate is in College Station / Bryan over the summer months and when things start filling up again?

Account Closed. Honest answer is I don't know as I don't deal in student related housing. But I do know most student housing is rented for a 12-Month term beginning in August and ending in July. 

Originally posted by @Patrick Walthall :

@Mike M. Thats a very broad question. Over the past 8 years we have seen more and more students say due the increasing number of jobs. Like @Jim Cummings said most leases are 12 months. What specifically do you mean by your question?

 We attended the A&M graduation a few weeks ago and I saw a lot of rental houses with signs up. I was told that many rental houses in the area have a turn over in May. I am not referencing on campus or student housing. I am referencing off campus single family rentals that are generally rented to Masters and Ph. d candidates. 

Gotcha! Turn season mid July to mid August typically. Honestly most students at TAMU don't live on campus and tons live in single family homes. In my experience majority of single family home rentals are not Ph.d and Master students either... The reason you are seeing so many for rent/lease signs is due to how over built the town is now because all the student housing developments. i.e Parkwest, Aspire, The Barracks etc.. 

Account Closed says we do have a current abundance of student oriented (Resort Type) properties.

My properties are SFR, and my prime tenant are typically people with Kids, based on Schools, bedrooms, locations, etc. (Could work for MS & PhD Candidates).

My ideal turnover time is May - June, so I can get rented before school starts again in August. Even though not student oriented, the crush of students looking for rentals, do add some competitive juice to people looking at my SFRs. 

I don't have  any personal experience, but anecdotal experience from watching properties and signage, if you don't get your SFRs rented by Mid-August, they might be vacant for several months. 

Hope this helps. Let me know if I can assist further.

@Jim Cummings that’s very interesting. With turnover being in May/June are the units sitting vacant (vacant in this context meaning no income) for possibly 3.5 months? 

Also to piggy back off what you said I strongly agree if units are not rented by mid August then there is a high possibility it can go vacant for months and possibly even a year. 

Luckily with the increasing number of jobs we are seeing homes lease in the “off season” more often in the previous 2 years than we in the past. 

@Patrick Walthall . I've been fortunate, all my vacancies have been filled rather quickly. I always strive for best looking property, and competitive pricing. I would rather have it occupied at XX dollars rather than vacant at XXX dollars. 

I did have one in 2017 Vacant for 45 Days, (June 30 - August 15) but I was in process of updating during that time. Probably could have Leased beginning August but house wasn't ready. 

I'm all for the increasing jobs and leasing all during the year.

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