ATTOM Data Solutions
Dallas-Fort Worth is one of the top cities in the country for home flips in first quarter of 2018. D-FW ranked ninth among the metro areas with the most home purchases and quick resales in the three-month period, according to a new report by Attom Data Solutions. More than 1,200 home flips were counted in the D-FW area — almost 8 percent of the total home purchases. Local flips were up 2 percent from first quarter 2017. Nationwide home flips were basically unchanged from a year earlier and accounted for just under 7 percent of total U.S. home purchases. Still, more than 48,000 homes around the country were flipped in the first quarter, according to Attom Data. "The 2018 housing market is a double-edged sword for home flippers," Daren Blomquist, senior vice president at Attom Data Solutions, said in a statement. "Rapidly rising home prices boosted by low available inventory of homes for sale or for rent are padding profits at the back end when flippers sell, but those same market realities are eroding flipping returns at the front end by forcing flippers to pay more to acquire homes to flip." In the D-FW area, the average flipper profited by $44,811 when a house resold. The median price of local flip homes was $244,811.
- Dallas Morning News, June 7, 2018