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Numbering more than 6.6 million residents, the Houston-The Woodlands-Sugar Land metro area is the fifth most populous metro area in the nation and the second most populous in Texas behind Dallas. Encompassing nine counties in 9,444 square miles, the area has 2.5 million housing units .
A metro economy ranked seventh largest in the nation in 2017 by the U.S. Bureau of Economic Analysis, continuing growth in population and jobs – along with low unemployment – are all positive factors for investors to consider when looking at Houston as a potential location for flipping homes.
The metro ranked ninth among the nation’s top 10 metros for flipped homes during the third quarter of 2019.
Q3 2019 Home Flipping Figures for the Houston Market
|Total Number of Flips||949|
|Home Flipping Rate||5.0%|
|Flipping Gross Profit||$41,809|
|Gross Return on Investment||23.9%|
Other highlights from ATTOM’s third quarter of 2019 Home Flipping Report revealed the following details for the Houston metro area:
- Quarterly change in flipping rate was up 1 percent
- Year Over Year change in flipping rate was up 27 percent
- Median purchase price = $175,000
- Median flipped price = $216,809
Flippers made an average gross profit of $41,809 in the third quarter of 2019, for a gross return on investment of 23.9 percent, an 8 percent decrease from a year ago. Home flips in the Houston metro area in the third quarter of 2019 were down from their peak that occurred during the second quarter of 2019 when they numbered 952.
Houston metro area flips that were completed in the third quarter of 2019 took an average of 171 days to finish.