Investors buy half of homes sold in Tarrant County, Texas

Of the homes sold in Tarrant County last year, 52% were purchased by a business or corporation.

Of the homes sold in Tarrant County last year, 52% were purchased by a business or corporation.

[email protected]

One in two homes purchased in Tarrant County in 2021 was purchased by a business or corporation.

Tarrant County’s share of institutional buyers ranked third nationally among counties with populations over 50,000. Businesses and corporations accounted for 52% of home purchases in the county in 2021, according to a new report from the National Association of Realtors.

The report describes the characteristics of areas with an investor share above 30%. In these areas (including Tarrant County):

  • The number of households has increased by an average of 11% over the past decade.
  • Home prices have risen more than 40% over the past decade.
  • Rents have increased by more than 30% on average over the past decade.
  • Home sales have increased by about 70% on average over the past decade.

Of the 15 counties with the largest share of institutional home buyers, nine are in Texas: Tarrant, Rockwall, Midland, Dallas, Travis, Denton, Harris, Kaufman and Williamson.

In 2021, 28% of Texas homebuyers were businesses, the highest rate nationally, and it’s more than double the national average of 13%.

Sellers said they accepted offers from these types of buyers because they were offering money or buying the property “as is”.

According to a Realtor survey, among homes purchased by institutional buyers, 42% have been converted to single family rentals and 45% have been flipped and resold. It’s partly because 42% of homes sold to institutional buyers were flagged as needing repairs.

Fort Worth Star-Telegram Related Stories

Jess Hardin covers growth and development. After graduating from Georgetown University, she got a Fulbright scholarship to Georgia (the country) and served a brief stint in federal service in whistleblower protection. Jess arrives in Fort Worth after helping launch digital news startup Mahoning Matters following the closure of The Vindicator in Youngstown, Ohio. Send tips to [email protected] or via Twitter to @jesslhardin.

Previous What to know about taxes before selling your home in 2022
Next Serious mortgage delinquencies are up 55% from pre-pandemic levels