Zillow: Fixer upper sales down

(CNN)– America’s love affair with fixer-uppers may be fading.

Zillow says homes that need work are now selling at a 14% discount compared to similar move-in-ready homes.

That’s nearly double from last year and the biggest gap Zillow has recorded in years.

Experts say rising mortgage rates, inflation, tariffs on building materials, and labor shortages have driven renovation costs higher.