How COVID Has Affected House Flipping - James Dainard

How has COVID affected flipping houses?

All the experts predicted a housing crisis... so why are homes rapidly appreciating? Here are the top 3 reasons:

1. Interest rates have dropped nearly 1 point causing rapid affordability in a home. Example: on a $300k house purchase, it reduces the mortgage payment by 9% which causes home prices to inflate.

2. Supply and demand. With an active pandemic, less sellers are putting their homes on the market- which means inventory is down nearly 50 percent.

3. Confined spaces. People working out of their homes are looking for more space. Having a comfortable home/work environment has never been more important than it is now.

I’ll be posting more educational content like this moving forward, covering a wide range of flipping challenges and how to navigate them. If you have any questions, sound off in the comments below!

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How are things(access to materials & time on market for homes) nearly one year later?

Thanks!