High mortgage rates, soaring house prices and rising construction costs have driven many flippers out of the market. And with their exit comes a great opportunity for people eager to buy a fixer-upper of their own.
Institutional buyers and iBuyers are vanishing. More and more listings are going to need major work done. And both Gen Z and Gen X investors are looking to real estate for passion projects. Could we be on the brink of major change?
The share of flips among second-quarter home sales was up in Greater Boston, according to a new report, but flippers’ return on investment was down significantly over 2021.
People buy fixers for all sorts of reasons. Money, of course, is the main factor. But many simply like the house or the neighborhood, and a healthy minority figured they’d enjoy working on the place.
