Fix & Flip Market 2025 – What Are You Seeing?

Question

Curious how everyone’s flips are going this year. Materials and labor are still up, and margins feel tighter—but demand for updated, turnkey homes seems strong in a lot of markets.

Some spots like Raleigh, Phoenix, and Atlanta are still hot for flips, but I’m wondering:

• What markets are you active in right now?
• Are buyers still biting on updated rehabs?
• How are you keeping costs in check?

What markets are you active in right now?

Are buyers still biting on updated rehabs?

How are you keeping costs in check?

Let’s share what’s working and what’s been tough so far this year.

Peter Mckernan · Answer

The market across the country has increased in inventory which will/has been putting downward pressure on the pricing of properties. That is a what you/the investors need to be looking out for when buying. How much inventory is out there, and how much has it increased.. The US 1,450,000 homes on the market currently, and the last time we had that was back in 2020.. As we continue into a 2019-2018 style market (more inventory and less demand), you need to be very cautious on not only price you buy at when you buy, but the location is key even more than it was 2-3 years ago and functionality of the house too.

Pat Lulewicz · Answer

Youre right @Joe Grespin that its driven by hustle and local strategy; it all comes down to the "buy" these days because you aren't seeing crazy appreciation in the 2-3 months it takes to flip a property. Lipstick projects are rare because OO's will buy them out of a level of desperation. Foreclosures are a hot option and 2 of my clients have gone that route recently. Most successful flippers seem to be playing the volume game where they can get discounts scale or payroll a few contractors for the year.

On the demand side, because low- to mid-tier inventory is so common, buyers are much more picky and seeing many more closing credits for little things: insulation in attic/crawl space, poly piping, half-life HVAC...they can ask for anything because it has become tougher to sell a flipped house especially because of the connotation they have with "flips" being cheap and half-done.

Benjamin Carver · Answer

Honestly? The Raleigh market is not great for flipping right now. NOT saying you can't do it here but our appreciation and demand influx is making it very difficult to find a solid property with enough spread, while competing with capital from both local investors and all the California type investors who've been focusing in on the Triangle the last several years here.

Raleigh is great for buy and hold appreciation, short term rentals do pretty well here, and so do other creative strategies like rent by the room, student housing, furnished rentals, etc.

If you really want to flip here you got to source your own deals, do a ton of outbound volume, and or check out the very outer markets like Fayetteville or more toward the Greensboro markets. Best of luck!

Joe Grespin · Answer

Thanks for the insight, really appreciate it! Sounds like flipping in Raleigh takes serious hustle and local strategy. I’ll definitely look into those creative approaches and outer markets you mentioned.