Updated over 7 years ago on . Most recent reply
Dallas Texas Flip Statistics
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.
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@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.