Investors are buying up single-family homes across the US

After three straight quarters of declines, home purchases by investors rose 2.7% year over year in the first quarter of 2021, marking the first period of growth since the COVID-19 pandemic began, per a new study from Redfin.

Looking to take advantage of the hot housing market and a soaring stock market, investors bought about 1 of every 7 U.S. homes in the first quarter — up from the prior three quarters, in which they bought closer to 1 in 10 homes.

Investor purchases of single-family homes rose 4.8% year over year in the first quarter, outpacing growth in every other property type. They also still have the biggest market share in the multifamily sector, buying 25.8% of multifamily properties that sold in the U.S. during the first quarter...

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RSK: And this is adding to the rising prices and demand for single-family homes.

Ken Notes: I wish I had the money and had bought condos in 2008, but the prices are now pretty high so this is now a bit more risky...



- - Volume: 9 - WEEK: 22 Date: 5/25/2021 6:25:58 AM -