House Flippers Facing New Challenges

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We have had several recent posts about the economic condition of the home flipping market. With that in mind, a recent post on BizWomen says that in several housing markets there is a shortage of distressed and run-down properties that is making it harder for house flippers to find profits.  They point out that profits from flipping have shrunk to 38% from 42% over purchase prices, however they add that they’re actually lower when you factor in the renovation and remodeling costs.  And, as always, we have to mention that one elusive generational cohort’s effect on the market:

“Realtor.com, while reporting mixed numbers on the state of home flipping in 2018, still finds that Millennials are an attractive market for house flippers…..Millennials ‘want to move into a home that requires minimal work,’ Charles Tassell, chief operating officer at National Real Estate Investors Association, told Realtor.com.”

Click here to read the full story at bizwomen.

 

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Director of Education & Outreach, National Real Estate Investors Association

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