North Texas had one of the lowest rates of return on home flipping during the second quarter, averaging less than 33 percent, according to a new report by Attom Data Solutions. The report found that 1,379 single-family homes and condominiums were flipped in the Dallas-Fort Worth-Arlington area during the quarter, with a median flipped price of $229,824. That gives the region a 29.1 percent gross return on investment for the quarter. In comparison, Honolulu ranked the worst, with rate of return of 17.8 percent. That was followed by Boise, Idaho, with 23.5 percent; Austin, Texas, with 26 percent; San Jose, California, with 27 percent; and San Francisco with 27.1 percent.
Nationally, homes flipped in the second quarter yielded an average gross profit of $67,516 for a 48.4 percent return on investment. That was less than the 49.6 percent ROI in the second quarter of 2016, Attom Data Solutions said. The highest home-flipping returns in the months from April through June were found in Pittsburgh at 146.6 percent, Baton Rouge, Louisiana with 120.3 percent, Philadelphia with 114 percent, Harrisburg, Pennsylvania, with 103.3 percent, and Cleveland, Ohio, with 101.8 percent, the report said.
- Dallas Business Journal, September 14, 2017