The pandemic home flipping boom is long over—here’s what flipping looks like today

Before we get to today’s article, here are a couple of news items:

1. CoreLogic—a real estate data giant frequently cited by ResiClub—rebranded this week to Cotality.

“This rebrand reflects innovation, evolution, and commitment to uniting property professionals—strengthening businesses, fostering relationships, and powering outcomes that balance logic and data with humanity and emotion. Our name is changing to demonstrate the company’s unmatched dedication and service to clients around the world,” wrote Patrick Dodd, CEO of Cotality, in a press release this week.

2. NAR unveiled a new policy this week "giving MLSs discretion to set a delay period in which sellers and their agents can keep their properties from being marketed publicly.”

The Clear Cooperation Policy remains in place, however, this allows for delayed marketing of exempt listings. On X (formerly Twitter), I asked industry followers to share their thoughts on the announcement. You can read their commentary here.

During the Pandemic Housing Boom, home flipping surged as soaring home prices and ultra-low interest rates attracted more flippers, especially newcomers, to the market. However, as the market shifted due to the rate shock of 2022, home flipping activity declined, and many of those newcomers pulled back.

While some experienced flippers remain active, caution now prevails in the market. Regional challenges, including tight inventory in Connecticut, rising inventory in Florida, and escalating costs, have caused flippers to move forward with greater care.

In today’s article, we’ll share the full results from the first-ever LendingOne-ResiClub Fix and Flip Survey.

The flipper survey was fielded from February 1 to February 19, 2025. In total, 244 U.S. home flippers took the survey.

To conduct the survey, ResiClub partnered with LendingOne, a private real estate lender, which specializes in fix-and-flip loans, rental property loans, new construction loans, and multifamily loans.

Our findings reveal that the home flipping market in much of the Northeast remain competitive, as price appreciation, tight inventory, and aging housing stock create investment potential for fix and flip projects. However, home flippers in the region face intense competition for properties and elevated purchase prices. 

1. Home flipper sentiment and plans 

Fix and flip activity: 

• 89% of home flippers plan to conduct at least one fix and flip in 2025. 

• 64% plan to convert at least one fix and flip project into a rental using the fix-to-rent method. 

Market outlook: 

• 32% of home flippers say demand for fix and flip properties in spring 2025 is "very strong." In the Northeast, 59% of home flippers described demand as “very strong.” 

2. Financial Considerations 

Renovation costs: 

• 56% of U.S. home flippers say kitchen upgrades provide the best return on investment.

3. Flippers biggest concerns across the country

• Northeast: Housing inventory is the biggest challenge (34%). 

• Midwest & Southwest: Competition for properties is reported as the top concern among flippers (31% and 34%). 

• Southeast: Borrowing costs are the biggest concern, with several home flippers specifically noting trouble accessing enough financing for projects 

• West: Labor and material costs are the top challenge (24%).

Below you will find the full results to the LendingOne-ResiClub Fix and Flip Survey.

Note: Due to rounding, some total responses might not equal 100%.

Companies interested in sponsoring co-branded survey research with ResiClub and helping us provide timely and insightful insights to stakeholders across the housing sector should email: [email protected].