House flippers are keeping busy in the Dallas area but are only seeing about half the return on investment for their efforts compared to the national average.
The data comes from a new report released overnight Thursday from ATTOM Data Solutions, which curates real estate data nationwide.
The average profit on a flipped house in the United States in 2021 was $65,000, according to the ATTOM report, which represented the lowest average profit in more than a decade, as well as a drop of 3% from 2020.
Locally, the average profit for a flipped house in the Dallas market was $40,800, according to ATTOM, which ranked Dallas near the bottom of the list of major metropolitan areas, ahead of only Kansas City, Missouri, and two other Texas cities – Houston and San Antonio.
Beyond specific dollar amounts, the rate of return for a flipped house in Dallas in 2021 was barely half of the national average.
The gross profit margin in a typical flip in the U.S. last year was 31%, which was the lowest level since 2008, according to ATTOM.
In the Dallas area, the average profit margin on a flipped house was 16.1%, which again placed Dallas ahead of only a few other major metro areas – Kansas City, MO, Salt Lake City, UT, and Houston.
