tl;dr
Amid soaring home prices and stubbornly high mortgage rates, buyers are increasingly embracing fixer-uppers as a strategic way to enter the market. Data shows tripled search interest, lower price points, and growing buyer willingness to invest in renovations, despite lingering challenges like longer...
In a housing market defined by soaring prices and persistently high mortgage rates, a growing number of homebuyers are turning to an older strategy: purchasing fixer-uppers. According to a recent report by Realtor.com, searches for homes described as "fixer-uppers" have tripled since July 2021, reflecting a shift in buyer priorities as they seek ways to reduce costs and build equity. The trend highlights a broader struggle to navigate an increasingly unaffordable market, where traditional options remain out of reach for many.
Fixer-uppers—properties that require renovations to become livable—are being eyed more frequently, despite their challenges. These homes typically sell for about half the price of the national median single-family home, with July 2025 listings averaging $200,000 compared to $436,250 for all homes. While they often come with smaller square footage and older construction, their lower price points make them appealing to buyers looking to stretch their budgets. Realtor.com’s data shows that fixer-uppers now receive 52% more views per property than similar homes not marketed as such, a significant increase from 2021.
However, the market for these homes is not without hurdles. Fixer-uppers still spend longer on the market than other homes of similar age and price, with a median of 53 days compared to 50.5 days for other properties. Yet, this gap has narrowed over time, suggesting a growing willingness among buyers to take on renovation projects. Areas like Syracuse, New York; Toledo, Ohio; and St. Louis, Missouri, have seen a higher concentration of fixer-uppers, with some markets offering discounts of up to 20% compared to similar homes.
For sellers, the decision to market a home as a fixer-upper can influence buyer interest. Terms like "good bones" or "needs work" signal potential, attracting those willing to invest time and money into renovations. However, not all buyers are equally motivated. A separate study by Zillow found that some are prepared to pay up to $13,000 above their budget for move-in-ready homes, underscoring the trade-offs between immediate convenience and long-term savings.
As the housing market continues to evolve, fixer-uppers represent a pragmatic response to affordability challenges. While they require patience and a willingness to tackle renovations, they offer a pathway for buyers to enter the market or build equity in an environment where traditional options remain elusive. For sellers, the key lies in balancing transparency with appeal, ensuring that the home’s potential is clearly communicated to the right audience. In a landscape where every dollar counts, the fixer-upper may be more than a trend—it could be a necessary strategy for navigating the future of homeownership.