DALLAS, Aug. 30, 2012 // PRNewswire // -- Although the race to buy a new home is just starting to heat up for consumers, for HomeVestors, the number one buyer of houses in the United States, the race is well underway and the company's purchasing pace is blazing.
"We've seen a real uptick in activity by our franchisees who understand the tremendous opportunity there is in the business of buying homes as rental properties," said HomeVestor co-president Ken Channell. "In fact, they have been buying houses at a rapid pace with purchase closings up 33 percent as of the end of July versus the same period last year."
Although the purchase closings have been strong throughout the country, Channell noted that activity in both Atlanta and Phoenix has increased according to the latest numbers.
"Both markets have consistently been in the top ten in our quarterly list of the 100 best markets to invest in real estate, which we publish with Local Market Monitor," Channell said, "and it looks like investors are starting to act on that information."
In addition to the increased pace of purchases, the number of franchisees has been growing as well, Channell said, with some 64 new franchisees opening this year alone.
"The number of additional new franchisees shows that investors continue to believe that there is opportunity in the real estate market nationwide," he added.
Dallas-based HomeVestors of America Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties. Most commonly known as the "We Buy Ugly Houses®" company, HomeVestors strives to make a positive impact in each community. In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review's "Top 50 Franchises," a distinction awarded to franchisors with the highest level of franchisee satisfaction. For more information, visit www.HomeVestors.com.
SOURCE HomeVestors of America Inc.