D-FW home flips are up 60% this year

Written by Desmond

December 16, 2021

Dallas-Fort Worth home flipping has taken off this year, with sales up more than 60% in the most recent quarter.

The D-FW area ranked third nationally for home flips, with more than 2,300 properties changing hands — close to an all-time high, according to a new report by Attom Data Solutions.

While the number of home flips was up around the country and in D-FW, flippers were making less money.

“Home flipping produced another round of competing trends in the third quarter of this year as more investors got in on the action but got less out of it,” Attom Data Solutions’ Todd Teta said n the report. “We will see over the coming months whether the amount they can make on these quick turnarounds will still be enough to keep luring them into the home-flipping business or start pushing them elsewhere.”

Nationwide, the gross profit on home flips averaged $68,847 in the third quarter of 2021.

In the D-FW area, flippers walked away with just more than $43,000 in their pockets.

North Texas home flips had a median sale price of $300,162 in the third quarter.

Flips accounted for 7.5% of D-FW home sales in the most recent quarter. That’s up from about a 4% share in third-quarter 2020.

Only Phoenix and Atlanta saw more flip transactions.

The number of D-FW home flips was just shy of the all-time high number of sales recorded here in the second quarter.

While the number of property trades here rose significantly, average gross returns on the sale were more than a third less than in third-quarter 2020.

Attom Data counts flips as a single-family home or condo sale that was an arm’s-length transaction that occurred in the quarter where a previous arm’s-length transaction on the same property had occurred within the last 12 months.

Like traditional buyers, home flippers are having a tougher time getting desired returns because of record high property prices and a shortage of houses on the market.

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