Will House Flippers Cause A Market Flop?

In several Texas cities, investors are buying houses at rates well above the national average.

By Michael Marks & Alexandra HartJuly 18, 2017 10:21 am|

Are you seeing more ‘For Sale’ signs pop up in your neighborhood lately, or a lot of turnover among the neighbors? Then you may have also noticed that the folks who eventually move in may not be may not be the people who own those homes.

Developers, house flippers, investors – whatever you call them – they’re gobbling up more and more properties in Texas. In Dallas for example, almost 40 percent of all the homes sold in 2016 weren’t purchased by owner-occupants. That’s the highest rate since the year 2000, and well above the national average. So what’s going on here?

Daren Blomquist, senior vice president at ATTOM Data Solutions, analyzes property and real estate data. He explains this paradigm shift in the housing market and what it might mean for owners and renters.

 

Written by Taylor Jackson Buchanan.