HomeVestors Hits 1K in Still-Strong Housing Market
HomeVestors, the largest home-buying franchise is celebrating a notable milestone, signing its 1,000 franchise as the U.S. real estate market appears to be cooling from the absurd heights seen in recent years as inventory remains tight in key cities.
The Dallas-based franchisor is celebrating its 1,000th franchise just nine years after the We Buy Ugly Houses company had just 165 independently owned and operated franchises. Now in 164 markets—and the 179th largest U.S.-based franchise according to the Franchise Times Top 200+—HomeVestors credits its wild growth to a wider interest in the real estate market, as well as the success of its franchisees.
“Anyone can hang a banner and offer a real estate investing seminar, but we provide franchisees with an approach that has yielded year-after-year without signs of abating,” said CEO David Hicks.
While the U.S. housing remains strongly in “seller’s market” territory—especially in the largest, most in-demand cities, rising interest rates and dwindling supply threatens to detail the multi-year housing recovery—if it can even be called that this many years after the last recession.
HomeVestors first began franchising in 1996, and bills itself as America’s largest home buyer. Collectively, it has purchased 85,000 houses as of early 2018, and averages about 8,000 houses purchased every year.
The houses are deemed “ugly” in the brand’s brightly hued advertisements, with the term applying not just to condition, but also to the situations sellers may find themselves in. Houses purchased by HomeVestors franchisees are generally rehabbed, then sold or held as investment properties.