Investor Home Purchases Fell Record 49% Year Over Year Q1
View Source | May 31, 2023 2:47 pm
- That outpaced a 41% drop in overall home purchases. Investors retreated as rising interest rates and falling home values shrank potential profits.
- Still, investors bought up 18% of homes that sold. That’s down from a peak of 20% a year earlier but is higher than pre-pandemic levels.
- Investors gravitated toward low-priced homes and condos; starter homes made up a record 2 in 5 investor purchases.
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