| The corporate scalpers of the housing market are struggling.
Individual flippers typically perform extensive improvements before relisting a home for sale. But these firms — including Opendoor, Offerpad, and now-defunct arms of Zillow and Redfin — would sell properties just weeks after closing on them.
And as the housing market stalls, it’s becoming harder for these companies to make a profit.
Trying to time the market is difficult, and betting that prices will continue to increase indefinitely is tricky for anyone. But the strategy of flipping homes en masse has not had to endure a housing-market downturn — until now. |