Sourced data
Texas House Flipping Statistics
Recent statistics on real estate investor flips, funding, rehab costs, investor share, inventory, and foreclosures.
Last updated
Key figures
- 297,045 U.S. homes flipped in 2025, 7.4% of sales ATTOM, March 19, 2026
- 25.5% Typical 2025 gross flip ROI, lowest since 2008 ATTOM, March 19, 2026
- 5.6% Texas typical gross flip ROI, Q1 2026 ATTOM, June 18, 2026
- 62.3% Share of 2025 flips bought with cash ATTOM, March 19, 2026
Sources: ATTOM, Federal Reserve Board, Urban Institute Housing Finance Policy Center, National Association of REALTORS®, Federal Deposit Insurance Corporation, Zonda Cost vs. Value Report 2025, U.S. Bureau of Labor Statistics, Cotality, Realtor.com Research, AirDNA, U.S. Census Bureau, Housing Vacancies and Homeownership, Federal Housing Finance Agency, Texas Real Estate Research Center at Texas A&M University. ATTOM flip profit is resale minus purchase; rehab and holding costs are not deducted.
What these numbers mean for a Texas flip
The national gross return on a 2025 flip was 25.5%, before rehab. Texas printed 5.6% in Q1 2026, and the four large metros ran from 2.0% in Austin to 7.2% in Houston. ATTOM puts rehab and holding costs at 20% to 33% of after-repair value. On a typical Texas deal, that cost is larger than the gross spread. The margin comes from buying below the market, not from the market.
On a fix and flip we lend up to 75% of arv, so the purchase price, the rehab budget, and the resale comps have to leave room for the carry. Starting at 12% with origination fee of 2% to 4% and a $995 doc fee, on a 6 month initial term with extension provision. Run your deal through the fix and flip profit calculator with the rehab at 20% to 33% of ARV and see whether it still clears. If it does, the fix and flip program page has the full terms and the documents we need.
Published program terms, not a quote. Every loan is subject to title review, documentation, and approval.
Texas large-metro flips, Q1 2026
Texas ranks near the top of ATTOM's flip-share table and near the bottom of its return table. Statewide, ATTOM counted 6,367 flips, a 9.9% flipping rate, $15,965 typical gross profit, and 5.6% typical gross ROI.
| Market | Flip rate | Typical gross profit | Typical gross ROI |
|---|---|---|---|
| Texas | 9.9% of sales (6,367 flips) | $15,965 | 5.6% |
| Dallas | 11.9% of sales | not reported | 4.3% |
| Houston | not reported | not reported | 7.2% |
| San Antonio | not reported | not reported | 5.1% |
| Austin | not reported | not reported | 2.0% |
Investor share of U.S. home purchases
| Series | Period | What it counts | |
|---|---|---|---|
| Cotality | 30% of single-family purchases | Year-end 2025 | Buyer owns 3 or more properties |
| Cotality | 27.7% of single-family purchases | March 2026 | Same definition. Mega-investor share fell from 2.5% to 1.3% from December to January |
| Cotality size split | About 25% small and medium; about 5% large and mega | 2025 | Small: fewer than 10 properties. Medium: 10-99. Large: 100-999. Mega: 1,000 or more |
| Realtor.com | 11.3% of purchases (534,000 homes) | Calendar 2025 | Realtor.com investor screen. Investor sales were 9.3% of total sales (442,000) |
| NAR monthly | 14% of existing-home transactions | July 2026 | "Individual investors or second-home buyers" |
Flips
ATTOM counts a flip when the same house or condo sells twice, arms-length, inside 12 months. The profit figure is resale minus purchase.
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297,045 single-family homes and condos were flipped in the United States in 2025.
ATTOM · Year-end 2025 report · March 19, 2026
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2025 flip volume was down 3.9% from 309,050 flips in 2024 and was the lowest annual total since 2020.
ATTOM · Year-end 2025 · March 19, 2026
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Flipped homes accounted for 7.4% of all U.S. home sales in 2025, down from 7.6% in 2024.
ATTOM · Year-end 2025 · March 19, 2026
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The typical flipped home in 2025 generated $65,981 in gross profit, down from $77,000 in 2024.
ATTOM · Year-end 2025 · March 19, 2026
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Typical 2025 gross flipping ROI was 25.5%, the lowest rate ATTOM has recorded since 2008, down from 32.1% in 2024.
ATTOM · Year-end 2025 · March 19, 2026
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A typical 2025 flip was purchased for a median $259,019 and resold for a median $325,000.
ATTOM · Year-end 2025 · March 19, 2026
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The median flipped property in 2025 was built in 1978, the oldest vintage since ATTOM began tracking.
ATTOM · Year-end 2025 · March 19, 2026
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In Q4 2025, 68,999 homes were flipped by 54,992 investors, averaging 1.25 homes per investor.
ATTOM · Q4 2025 / year-end report · March 19, 2026
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Typical Q4 2025 gross profit was $62,000 with a 23.6% profit margin, the lowest quarterly margin since Q3 2007.
ATTOM · Q4 2025 · March 19, 2026
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64,348 single-family homes and condos were flipped in Q1 2026, equal to 8.0% of home sales from January through March.
ATTOM · Q1 2026 report · June 18, 2026
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Q1 2026 flip count was down from 69,711 in Q4 2025 and from 70,579 in Q1 2025. The 8.0% sales share was up from 7.2% in Q4 2025 and down from 8.2% in Q1 2025.
ATTOM · Q1 2026 · June 18, 2026
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Typical Q1 2026 gross profit was $66,000 and typical gross ROI was 25.4%, the first quarterly ROI increase after seven quarters of decline (from 24.7% in Q4 2025).
ATTOM · Q1 2026 · June 18, 2026
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Texas recorded 6,367 flips in Q1 2026, a 9.9% flipping rate, $15,965 typical gross profit, and 5.6% typical gross ROI.
ATTOM · Q1 2026 state trends · June 18, 2026
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Among metros with populations over 1 million, Q1 2026 typical flip ROI was 2.0% in Austin, 4.3% in Dallas, 5.1% in San Antonio, and 7.2% in Houston - the four weakest large-metro returns ATTOM listed.
ATTOM · Q1 2026 · June 18, 2026
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Dallas, TX posted an 11.9% flipping rate in Q1 2026, among the highest large-metro rates nationally.
ATTOM · Q1 2026 · June 18, 2026
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Georgia led Q1 2026 state flipping rates at 11.1% (3,838 flips; $55,999 typical profit; 23.7% ROI). Ohio was second at 10.8% (4,115 flips; $54,710 profit; 35.2% ROI).
ATTOM · Q1 2026 · June 18, 2026
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In 2025, flipped homes accounted for more than one-tenth of all home sales in 101 of 851 counties with at least 50 flips. Highest county rates: Cobb County, GA 19.6%; Clayton County, GA 19.5%; Houston County, GA 16.1%.
ATTOM · Year-end 2025 · March 19, 2026
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The 2025 flipping rate as a share of sales fell year over year in 142 of 215 metros ATTOM analyzed (population at least 200,000 and at least 100 flips).
ATTOM · Year-end 2025 · March 19, 2026
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Q2 2025 recorded 78,621 flips (7.4% of sales). Typical ROI was 25.1% - then the lowest quarterly margin since Q2 2008 - on a $259,700 median purchase price (highest in ATTOM's series back to 2000) and $325,000 median resale.
ATTOM · Q2 2025 report · September 18, 2025
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Q3 2025 recorded 72,217 flips (6.8% of sales). Typical ROI fell to 23.1% on a $260,000 median purchase and $320,000 median resale ($60,000 gross profit).
ATTOM · Q3 2025 report · December 11, 2025
How deals are funded
Cash versus financed flips, FHA resale exits, bank real-estate loans, and the nonbank share of agency mortgages.
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37.7% of flipped homes in 2025 were acquired with financing, up from 36.9% in 2024 (implying 62.3% cash in 2025).
ATTOM · Year-end 2025 · March 19, 2026
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In Q4 2025, 38% of flipped homes were purchased with financing, up from 37.2% in Q3 2025 and 36.7% in Q4 2024.
ATTOM · Q4 2025 · March 19, 2026
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In Q1 2026, 61.1% of flipped homes were purchased with all cash (38.9% financed), versus 61.4% cash in Q4 2025 and 59.6% cash in Q1 2025.
ATTOM · Q1 2026 · June 18, 2026
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Highest 2025 metro shares of financed flip purchases: San Diego, CA 61.3%; Lincoln, NE 60.6%; Des Moines, IA 59.9%; Seattle, WA 58.9%; Manchester, NH 55.6%.
ATTOM · Year-end 2025 · March 19, 2026
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Highest 2025 metro shares of cash flip purchases: St. Cloud, MN 94.3%; Utica, NY 89.8%; Ocala, FL 84.5%; Flint, MI 82%; Buffalo, NY 80.4%.
ATTOM · Year-end 2025 · March 19, 2026
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11.3% of flipped homes nationwide in 2025 were sold to buyers using FHA-backed loans, up from 10.7% in 2024. Laredo, TX sold 29.8% of flipped homes to FHA-assisted buyers.
ATTOM · Year-end 2025 · March 19, 2026
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FHA-assisted buyers accounted for 10.2% of flipped-home purchases in Q1 2026, down from 10.6% in Q4 2025 and 11.7% in Q1 2025.
ATTOM · Q1 2026 · June 18, 2026
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Real estate loans at all commercial banks totaled $5,810.439 billion in July 2026 (seasonally adjusted).
Federal Reserve Board (H.8) via FRED REALLN · July 2026 · September 4, 2026
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Total first-lien mortgage origination volume in Q1 2026 was approximately $530 billion, 49% higher than Q1 2025. GSE securities originated in Q1 2026 were $203 billion (38% of securitized originations).
Urban Institute Housing Finance Policy Center (Inside Mortgage Finance) · Q1 2026 data, July 2026 chartbook · July 2026
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Nonbanks originated 83.6% of all agency single-family mortgage originations as of May 2026.
Urban Institute Housing Finance Policy Center · May 2026 data, July 2026 chartbook · July 2026
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NAR's 2025 Profile of Home Buyers and Sellers found all-cash purchases averaged 26% of buyers over the July 2024-June 2025 survey window. Median down payment among all buyers was 19% (10% first-time; 23% repeat).
National Association of REALTORS® · 2025 Profile · November 4, 2025
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In July 2026 existing-home sales, cash sales were 26% of transactions and individual investors or second-home buyers accounted for 14% of transactions.
National Association of REALTORS® · July 2026 Existing-Home Sales · August 11, 2026
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Bank loans outstanding to nondepository financial institutions totaled $1.4 trillion as of December 31, 2025, equal to 5.6% of total industry assets. NDFI loans grew 35.2% year over year in 2025.
Federal Deposit Insurance Corporation · Year-end 2025
Rehab cost and hold time
Zonda's 2025 Cost vs. Value averages cover 119 markets. BLS producer price indexes track materials. ATTOM hold time runs from purchase to resale.
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Average 2025 U.S. midrange major kitchen remodel cost was $82,793, with estimated resale value of $42,130 (50.9% of cost recouped).
Zonda Cost vs. Value Report 2025 · September 2025
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Average 2025 U.S. midrange minor kitchen remodel cost was $28,458, with estimated resale value of $32,141 (112.9% of cost recouped).
Zonda Cost vs. Value Report 2025 · September 2025
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Average 2025 U.S. asphalt-shingle roof replacement cost was $31,871, with estimated resale value of $21,501 (67.5% of cost recouped). Metal roof replacement cost was $51,865, recouping 50.1%.
Zonda Cost vs. Value Report 2025 · September 2025
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Average 2025 U.S. HVAC electrification conversion cost was $19,484, with estimated resale value of $14,053 (72.1% of cost recouped).
Zonda Cost vs. Value Report 2025 · September 2025
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Average 2025 U.S. fiber-cement siding replacement cost was $21,485, with estimated resale value of $24,420 (113.7% of cost recouped). Vinyl siding replacement cost was $17,950, recouping 96.5%.
Zonda Cost vs. Value Report 2025 · September 2025
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Average 2025 U.S. midrange bath remodel cost was $26,138 (80.0% recouped). Midrange bathroom addition cost was $60,645 (53.3% recouped).
Zonda Cost vs. Value Report 2025 · September 2025
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BLS PPI for construction materials (series WPUSI012011, 1982=100, not seasonally adjusted) stood at 374.039 (preliminary) in July 2026, versus 338.600 in July 2025.
U.S. Bureau of Labor Statistics · July 2026
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BLS PPI for materials and components for construction (series WPUID612, 1982=100, NSA) stood at 381.097 (preliminary) in July 2026, versus 363.539 in July 2025.
U.S. Bureau of Labor Statistics · July 2026
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The average home flipped in 2025 took 163 days from purchase to resale, one day longer than 2024 and faster than the 176-day average in 2020.
ATTOM · Year-end 2025 · March 19, 2026
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Median flip timeline was 165 days in Q1 2026, up from 160 days in Q4 2025 and 164 days in Q1 2025.
ATTOM · Q1 2026 · June 18, 2026
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ATTOM notes that rehab and other expenses typically run between 20% and 33% of a property's after-repair value, and are not deducted from published gross flip profits.
ATTOM · Year-end 2025 methodology note · March 19, 2026
Other investor strategies
Cotality and Realtor.com use different investor screens, so the percentages diverge. Census covers tenure. AirDNA covers short-term rentals.
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Investors accounted for 30% of all U.S. single-family home purchases at the close of 2025, up from 29% at the end of 2024.
Cotality (formerly CoreLogic) · Year-end 2025 investor update · February 12, 2026
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Small investors (fewer than 10 properties) and medium investors (10-99 properties) together accounted for nearly one-quarter of all U.S. home purchases in 2025. Large (100-999) plus mega (1,000+) investors together accounted for approximately 5%.
Cotality · Year-end 2025 investor update · February 12, 2026
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Investor purchases averaged 80,000 to 100,000 homes per month through late 2025.
Cotality · Year-end 2025 investor update · February 12, 2026
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Investor share of single-family purchases fell from 30.1% in December 2025 to 27.7% in March 2026. Mega-investor share halved from 2.5% to 1.3% from December to January; small-investor share rose from 14.1% to 15%.
Cotality · Q1 2026 investor update · June 4, 2026
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Realtor.com counted about 534,000 investor home purchases in 2025 (11.3% of purchases), up 0.7% from about 529,000 in 2024 (11.0% share). Investor sales were 9.3% of total home sales (442,000 properties).
Realtor.com Research · 2025 full-year figures in Midyear Update · June 23, 2026
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AirDNA's mid-2026 outlook forecast U.S. short-term rental occupancy to average 57.4% in 2026, above the pre-pandemic average of 57.0%. Demand and available listings were both projected to grow 2.7%, and RevPAR to increase 2.9%.
AirDNA · 2026 Midyear Outlook · July 8-9, 2026
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AirDNA's November 2025 U.S. review recorded 1.73 million available U.S. STR listings (+4.7% year over year), national ADR of $226.61 in November 2025, occupancy of 51.2% that month, and year-to-date occupancy of 57.9% through November 2025.
AirDNA · November 2025 data · December 2025
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U.S. rental vacancy rate was 7.3% in Q2 2026; homeowner vacancy rate was 1.2%; homeownership rate was 65.0%. Renter-occupied units were estimated at 46.827 million.
U.S. Census Bureau, Housing Vacancies and Homeownership (CPS/HVS) · Q2 2026 · July 28, 2026
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First-time buyers were 21% of the market in NAR's 2025 Profile (transactions July 2024-June 2025), the lowest share since NAR began tracking in 1981.
National Association of REALTORS® · 2025 Profile · November 4, 2025
Inventory, prices, foreclosures
NAR existing-home sales and inventory, FHFA repeat-sales prices, ATTOM foreclosure filings, and Texas A&M for the state print.
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Existing-home sales ran at a 4.06 million seasonally adjusted annual rate in July 2026, down 1.7% from June and up 0.7% from July 2025.
National Association of REALTORS® · July 2026 · August 11, 2026
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Unsold existing-home inventory was 1.54 million units at the end of July 2026, a 4.6-month supply (unchanged from June 2026 and July 2025). Inventory was down 1.9% month over month and down 0.6% year over year.
National Association of REALTORS® · July 2026 · August 11, 2026
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Median existing-home price was $434,100 in July 2026, up 2.0% from $425,700 a year earlier - the 37th consecutive month of year-over-year price increases. Single-family median was $440,300 (+1.9% YoY).
National Association of REALTORS® · July 2026 · August 11, 2026
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Median days on market for existing homes was 29 days in July 2026, up from 28 days in June 2026 and July 2025. First-time buyers were 29% of July sales.
National Association of REALTORS® · July 2026 · August 11, 2026
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Realtor.com counted 1,140,035 active U.S. listings in August 2026, up 3.6% year over year but still 11.1% below the pre-pandemic average. National median list price was $424,500, down 1.3% year over year.
Realtor.com Research · August 2026 Housing Trends · September 2, 2026
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U.S. house prices rose 2.1% from Q2 2025 to Q2 2026 and 0.3% from Q1 2026 to Q2 2026 on the FHFA purchase-only House Price Index (seasonally adjusted).
Federal Housing Finance Agency · 2026 Q2 HPI report · August 25, 2026
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House prices rose in 46 states and D.C. in the year ended Q2 2026. Fastest state appreciation: Alaska 8.30%, Vermont 7.29%, Hawaii 5.82%, Illinois 5.61%, West Virginia 5.58%. Largest decline: New Mexico -1.25%. Washington was -0.94%.
Federal Housing Finance Agency · 2026 Q2 · August 25, 2026
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Among the 100 largest metros, year-ended-Q2-2026 FHFA purchase-only appreciation was greatest in Elgin, IL at 7.73%. Austin-Round Rock-San Marcos, TX was -0.27% year over year.
Federal Housing Finance Agency · 2026 Q2 · August 25, 2026
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227,548 U.S. properties had a foreclosure filing in the first half of 2026. That equaled 0.16% of housing units, or one in every 632.
ATTOM · Mid-Year 2026 U.S. Foreclosure Market Report · July 16, 2026
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Lenders started foreclosure on 164,566 U.S. properties in H1 2026, up 18% from H1 2025 and up 66% from H1 2020. Texas led starts with 20,739, followed by Florida 20,358 and California 16,040.
ATTOM · Mid-Year 2026 · July 16, 2026
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Highest H1 2026 state foreclosure rates: Florida 0.27% of housing units; South Carolina 0.26%; Indiana 0.25%; Delaware 0.25%; Illinois 0.23%.
ATTOM · Mid-Year 2026 · July 16, 2026
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Properties completed through foreclosure in Q2 2026 had been in process an average of 563 days, the shortest average timeline since 2013 (down 2% from Q1 2026 and down 13% from Q2 2025).
ATTOM · Mid-Year 2026 · July 16, 2026
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367,460 U.S. properties had a foreclosure filing in calendar 2025 (0.26% of housing units), up 14% from 2024. Lenders started foreclosure on 289,441 properties in 2025 and completed 46,439 REOs, up 27% from 2024.
ATTOM · Year-End 2025 Foreclosure Market Report · Year-End 2025
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In July 2026 there were 39,906 U.S. properties with a foreclosure filing (one in every 3,603 housing units), up 1% from June and up 10% from July 2025. Starts were 26,648; completed REOs were 4,764 (+23% year over year). Texas had 3,306 July starts.
ATTOM · July 2026 Foreclosure Market Report · August 27, 2026
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Q1 2026 foreclosure filings totaled 118,727 properties (+26% year over year). Starts were 82,631 (+20% YoY). Completed REOs were 14,020 (+45% YoY). Texas led Q1 starts with 10,617.
ATTOM · Q1 2026 Foreclosure Market Report · April 16, 2026
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Texas statewide existing-home inventory stood at a 5.4-month supply at June 2026 month-end (up from 5.3 months in May). Active inventory was 153,800 listings. June median sales price was $342,900, down from $350,000 in June 2025. Austin prices were down 2.2% year over year in June.
Texas Real Estate Research Center at Texas A&M University · Texas Housing Insight, August 2026 (June 2026 data) · August 2026
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In Q3 2026, 3.3% of the 259,666 U.S. residential properties in the foreclosure process were classified as "zombie" (vacant pre-foreclosure) properties - 8,482 homes.
ATTOM · Q3 2026 Vacant Property and Zombie Foreclosure Report · September 4, 2026
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Questions about the numbers
How many U.S. homes were flipped in 2025?
ATTOM counted 297,045 single-family and condo flips, 7.4% of U.S. home sales. That was down 3.9% from 309,050 in 2024 and the lowest annual total since 2020. Q1 2026 added 64,348 flips, 8.0% of sales.
Is the 25.5% flip ROI net profit?
No. ATTOM divides resale minus purchase by purchase. Rehab and holding costs are left out. The same reports put those costs at 20% to 33% of after-repair value. Q1 2026 typical gross ROI was 25.4% nationally and 5.6% in Texas.
What share of flipped homes are bought with cash?
2025: 37.7% financed, 62.3% cash, per ATTOM. Q1 2026: 61.1% cash, 38.9% financed. FHA-backed buyers took 11.3% of 2025 flipped resales and 10.2% in Q1 2026.
How do Texas flip returns compare with volume?
Q1 2026: 6,367 Texas flips, 9.9% of sales, $15,965 typical gross profit, 5.6% typical gross ROI, per ATTOM. Dallas's flip rate was 11.9%. Gross ROI in the four large metros: Austin 2.0%, Dallas 4.3%, San Antonio 5.1%, Houston 7.2%.
What share of U.S. home purchases are investors?
Cotality: 30% of single-family purchases at year-end 2025, 27.7% in March 2026, counting buyers of three or more properties. Realtor.com: 11.3% of 2025 purchases. NAR: 14% "individual investors or second-home buyers" in July 2026. Name the series.
How much existing-home inventory is on the market?
NAR, July 2026: 1.54 million unsold existing homes, 4.6 months of supply, median price $434,100. Realtor.com, August 2026: 1,140,035 active listings. Texas A&M, June 2026: 5.4 months of supply statewide, median $342,900.
Are U.S. foreclosures rising?
ATTOM counted 227,548 filings in the first half of 2026 and 164,566 starts, up 18% from H1 2025. Texas led starts at 20,739. Calendar 2025: 367,460 filings and 46,439 completed REOs. Average completion timeline in Q2 2026 was 563 days.
Is there an official U.S. hard-money origination total?
No. Skip the $70 billion to $80 billion blog estimates. Use ATTOM's cash vs. financed mix, Fed H.8 real-estate loans ($5,810.439 billion at banks in July 2026), FDIC loans to nondepository lenders ($1.4 trillion at year-end 2025), and Urban Institute / Inside Mortgage Finance originations.
How to read these numbers
- ATTOM flip profit is resale minus purchase.
- The same reports put rehab and holding costs at 20% to 33% of after-repair value. Strip that from the 25.5% 2025 gross ROI and the leftover is thin. Austin, Dallas, San Antonio, and Houston already printed 2.0% to 7.2% gross in Q1 2026, before rehab.
- Investor-share series do not match.
- Cotality counts a buyer of three or more properties and printed 27% to 30% of single-family purchases. Realtor.com printed 11.3% of purchases on a different screen. NAR's July 2026 existing-home print put "individual investors or second-home buyers" at 14%. Name the series next to the percentage.
- No official hard-money origination total exists.
- Ignore $70 billion to $80 billion blog estimates. Use ATTOM's cash vs. financed flip mix, Fed H.8 bank real-estate loans, FDIC loans to nondepository lenders, and Urban Institute / Inside Mortgage Finance originations.
- A 3,000-loan DSCR tape is a sample.
- It does not size the national DSCR market.
Update schedule
- ATTOM: flips every quarter, foreclosure filings every month
- NAR: existing-home sales monthly
- FHFA: prices monthly with a quarterly wrap
- BLS: producer price indexes monthly
- Census: vacancies and homeownership quarterly
- Cotality: investor share roughly quarterly
- AirDNA: monthly, with outlook reports on top
Cite this page
Cite the publisher on the line you used, and this page as the compilation. Read the report before you reprint a number.
Cedar Top Lending, "Texas House Flipping Statistics," https://cedartoplending.com/resources/texas-house-flipping-statistics/, updated 2026-09-09. Compiled 2026-09-09 by Cedar Top Lending LLC. Reviewed by Blaine Covington, co-founder. Figures belong to the publishers linked on each line. General information, not investment, legal, or tax advice.
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