In early April, Atlanta-based real-estate agent Zak Elfenbein listed two newly renovated homes, nestled in a quiet suburb in Douglasville, Ga.
He wasn’t sure what to expect. The homes were 25 miles west of Atlanta, and were being sold by home flippers. Mortgage rates were above 6%, and home prices were high. But there was a noticeable lack of homes for sale coming on the market.
Elfenbein...