Welcome to the game, George!
The market will likely drop some due to the effects of the COVID-19 crisis, but nobody knows 1) how much it might drop, 2) exactly when it's most likely to start dropping, or 3) how quickly it's going to drop.
There are multiple factors that could affect all of the above, so it's wise to pay close attention. However, Real Estate price changes tend to lag the rest of the economy, so, if you're turnin' & burnin' a rehab, my guess is it's unlikely the market is gonna fall off a cliff so badly that you can't get it sold. That assumes, of course, that you buy it right and get the right people to help you fund & fix it. Terry Weakley is one of the best hard money lenders in the business, and Blake Johnson (speaking for us this coming Saturday) is one of the best general contractors. They're both fast and professional.
We only have about 2 months, if that much, of inventory right now, and a normal market has around 6 months, so... why not get out there and get one (or more!) under your belt before the holidays?!
BTW, TAMU's Real Estate Center is awesome! This article has their recent analysis on Texas Housing.
