DALLAS – Investors flipped a record 2,675 single-family homes and condos in DFW in first quarter 2022, about 133 percent more than in 1Q2021, according to Attom Data Solutions.
Flips represented about 13 percent of all sales in the area. Nationally, flips represented about 10 percent of all home sales. Almost two-thirds of the flipped homes were purchased with cash.
“While many people frown on flipping, it is actually a valuable service to communities because it improves the quality of the housing stock,” said Gerald Klassen, research data scientist with the Texas Real Estate Research Center.
“This improvement in value is reflected in higher prices on the resale. If the same home were resold for a higher price, that would not be a good thing for the community. If the quality of a home is improved, then that is of value.”