Consumer Minute: Oil is Up & "Flipping" is Down

Texas is putting out more than 2.9 million barrels of oil a day, according to the Energy Information Administration's website. That's more than Kuwait and Qatar.. and it's not far behind Iraq. According to Forbes, the oil boom has helped texas add about 300,000 jobs in the past year and end 2013 with a $2.6 billion dollar budget surplus.

In the real estate market, fewer buyers are "flipping" homes, but those who are, are making more money doing it. That's according to "Realty Trac." In the first quarter of this year, 3.7% of all home sales were flips. That's down from 6.5% from the same time last year. The average profit on those flips was 30% - that's 2% higher. The city with the biggest profit? Pittsburgh, where the average return on investment was 89%.

More Stories

Don't Miss

  • KNWA - Northwest Arkansas News

  • Fox 24 News

  • NWA Weather Authority

  • Razorback Nation

  • KNWA News

  • Fox24 News

  • Razorback Nation

  • KNWA Northwest Arkansas News Mobile App

  • NWA Weather Authority Mobile App

  • Hogville for Sports Mobile App