More people are flipping homes, but they are making less of a profit.
Investors looking to get a piece of skyrocketing home prices by buying a home, fixing it up and then quickly putting it back on the market, aren’t getting quite the returns they used to.
Finding a home to buy in the first place is more difficult, with record low inventory of homes and foreclosures. And rising competition for whatever homes are available means even shoddy homes in terrible condition are selling for a fortune. Plus, materials and labor shortages have made fixing up a place more costly.
