New analysis from Zillow shows that fixer-upper homes are selling just as fast, and in some cases faster, than other homes on the market.
Houses that are rough around the edges sell only three days later than the average home nationally. But in 13 of the 25 metro areas studied, fixer-uppers sell just as fast or faster than the average home. In Miami, the median fixer-upper took 15 fewer days to go pending than the median move-in ready listing.
Competition for homes is particularly hot in the lowest price tiers, which is where fixer uppers tend to be. There’s also the glamor element, with shows like HGTV’s “Fixer Upper,” “Flip or Flop” and “Rehab Addict” making under-loved homes downright irresistible.
Fixer-upper homes are still only a small share of the overall housing stock, making up between a fraction of a percent to 3 percent in each of the markets examined.