Source: Forbes —
As the housing market shifts in 2023, real estate investors looking to fix and flip will face both challenges and opportunities. Because return on investment is never fully guaranteed, developing a clear plan to address unexpected market shifts is critical. So, what three factors may impact how you evaluate new investment fix-and-flip opportunities in 2023?
1. A dramatic increase in foreclosure activity is happening.
Housing and rental demands will remain on the rise this year, but a potential recession—resulting in rising unemployment—could lead to more foreclosures. As reported recently by ATTOM, foreclosure filings are up more than 64% since 2022. One in every 4,580 housing units had a foreclosure in November of that year. While the activity differs across the country, states with the highest foreclosure levels included California, Texas and Florida.
