Investors

Investors Bought 90,000 Homes In Q3

Posted on by TMN Editor
Investors banking on growing home and rental prices for high returns bought 18.2% of all homes purchased in Q3 2021, up from 16.1% in Q2 and 11.2% year-over-year (YOY), according to a new Redfin report. Real-estate investors purchased a record 90,215 homes, totaling nearly $64 billion and up 80.2% YOY, the second-largest increase on record. Single-family homes made up nearly three-quarters of those purchases, an all-time high, while low-priced properties accounted for only 36%. The typical home purchased by investors cost $438,770. More than 75% of homes purchased by investors were paid for completely in cash. “Increasing home prices fueled by an intense housing shortage have created opportunities for investors to reap big profits,” said Redfin Senior Economist Sheharyar Bokhari.…

Real-Estate Investors Say Market ‘Much Worse’ Than A Year Ago

Posted on by TMN Editor
RealtyTrac’s Investor Sentiment Survey found 48% of real-estate investors believed the investment market is worse or much worse than a year ago, and 36% anticipate it will stay bad over the next six months. RealtyTrac, an ATTOM company that covers foreclosure and other real-estate data, surveyed more than 300 individual real-estate investors around the country. Almost 63% of respondents listed the rising cost of homes as a major challenge for investing, overtaking the former number one challenge, inventory, which came in at 57%. But when asked how they think the situation will look in six months, inventory again comes out on top, suggesting investors see home costs as a temporary hindrance. Competition from other buyers dropped out of the top…