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Can't speak to the market, but as a buyer in the Houston suburbs, I can identify a flip pretty easily and avoid them like the plague.
They usually want way too much and I don't trust the quality of work done to flip the house. Plus, lots of flippers make the mistake of making the interior way too trendy, which doesn't age well.
Subject Expert
Yes, the market for flips is bad. Holding costs, labor costs, and material costs are all high right now. Plus many people won’t make money on their first flip because the process requires so many moving pieces, and any profit you do make is taxed as ordinary income.