Thanks to 24 million homes entering their prime time for renovation, the housing market may see a wave of much needed inventory in the next few years. This presents an opportunity for fix-and-flip investors, according to New Western.
According to Business Insider, the real estate brokerage said a shift could be coming in the US housing market next year and could continue through 2027, thanks to a wider market of homes available to real estate investors focused on buying and renovating older homes to put them back on the market.
Home flipping already appears to be on the rise in pockets of the US. New Western investor activity in cities like Houston, Texas, Raleigh, North Carolina, and Atlanta, Georgia are up over 20% in the second half of the year compared to the first half, the firm said.
“The steady beat of, what we like to call The Great Renovation will continue into 2024. The prime remodel years for homes will rise into 2027, with 24 million homes ripe for major renovation,” New Western said in a recent report.