HomeVestors Continues Strong Growth during Housing Market Turnaround, Adding Franchisees at Record Pace
Number of Franchisees and Closings Up Significantly Over 2012
DALLAS - June 25, 2013 // PRNewswire // - HomeVestors of America (the We Buy Ugly Houses® people) has accelerated its growth in both new franchisees and houses purchased during the first five months of 2013 at a pace that should make 2013 a record year for the company.
"Through May, we have gained 81 new franchisees compared with 125 we added in all of 2012," said David Hicks, HomeVestors co-president. "We expect the pace to continue and, if it does, we could end the year with over 200 new franchisees, a record-breaking 60 percent increase over last year."
Hicks noted that housing purchases have also steadily increased through the first five months of the year and are on track to approach 3,000 this year, compared to approximately 2,250 in 2012.
Even with the increased competition from private equity firms buying up homes to rent, HomeVestors co-president Ken Channell expects the company's growth to continue.
"What makes HomeVestors different from the private equity firms now flooding the market is that we are a nationwide network of local business owners. Our independently owned and operated franchisees live and work in the local community where they buy, rehab, hold and sell residential real estate."
Since 1996, HomeVestors® franchisees have purchased over 50,000 homes. "We bought when the market was going up, and when the market crashed, we continued buying. Even now as hedge funds have discovered the market, HomeVestors is continuing to buy," Channel noted. "When the hedge funds decide the return is better in some other hot new class, HomeVestors will continue improving neighborhoods, one house at a time in over 100 markets in the U.S."
About HomeVestors of America Inc.
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.