House flipping—the high-risk, high-reward corner of the real estate market—is hitting a rough patch, The Wall Street Journal reports.  National flipping volume dropped to 297,885 homes in 2024, down 7.7% from 2023 and more than 32% below 2022 levels, according to real estate data firm Attom.  Investors looking to turn distressed properties into quick profits are now facing a tougher financing environment as specialty lenders grow more selective, while 30-year mortgage rates remain elevated at 6.28%. Low for-sale housing inventory—the U.S. is short 3.7 million units—adds competitive pressure and drives up acquisition costs. Material, labor and insurance expenses continue to climb, and institutional buyers are also hunting the same limited supply of deals.  Some professionals are adjusting by choosing lighter rehabs, faster turnarounds and rental exits when needed—a sign that even seasoned flippers need new strategies as conditions tighten.  Read the full story.  ...read more read less