Fixer-uppers present an affordable housing option amidst soaring home prices, particularly in states like West Virginia where over 9% of listings require renovations. By contrast, Nevada has the lowest share at 1.8%. This trend highlights the opportunity for buyers, especially those able to invest time and skills in home improvements. Such properties are predominantly found in the Northeast and Midwest, areas with older housing stock. The use of AI tools to analyze listings indicates the significant market potential for renovation properties.
West Virginia leads the nation for fixer-uppers, with more than 9% of single-family listings in the Mountaineer State in need of some TLC.
Just 1.8% of home listings in Nevada are fixer-uppers, the lowest share in the nation.
Deciding to take on a fixer-upper could be especially attractive to enterprising homebuyers looking for modern amenities in locations where they are less common.
Savvy home renovators can circumvent some of the current affordability challenges of the market by purchasing a home on the cheap and substituting their sweat equity.
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