Will House Flipping Remain Popular?

Will House Flipping Remain Popular?

During the past several years, house flipping has been profitable for many savvy investors, capitalizing on strong buyer demand for updated and renovated homes. But during 2020, the percentage of homes that were flipped dropped by a surprising 13.1%, according to ATTOM Data Solutions.*

One reason may be that homes have become more difficult to acquire at the right price, as inventory remains stubbornly low. Like typical buyers, investors are competing for a persistently low number of homes in many markets. The drop in flipping occurred even as home prices rose and many sellers received multiple offers in record time.

The trend among buyers has been a preference for homes that have already been updated. Despite last year’s pullback, buyers’ reluctance to renovate on their own means that house flipping probably won’t go away anytime soon.

*As reported by the Pennsylvania Association of Realtors.

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Read more of Annette’s real estate articles for the latest real estate advice. If you’re planning to buy or sell a home, contact Annette Nelson at (610) 247-7892 or annette@preferredhomes.com

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