Investor Share of Home Sales at Record Levels

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Posted To: MND NewsWire

Seven or eight years ago the home sales headline was the entry of big institutional investors into the single-family market. These investors, many of which were hedge funds, bought up hundreds of thousands of distressed homes, a large number of which were owner-occupied, to utilize as rental properties. Investors are still with us, in larger numbers than ever, but the mom-and-pop landlord model is back. CoreLogic Deputy Chief Economist Ralph McLaughlin, writing in the company’s latest MarketPulse said the share of homes bought by investors reached its highest level since Corelogic started tracking it in 1999, 11.3 percent. Most of the buyers appear to be small investors, those who purchase fewer than 10 homes, just getting into the game. They are focusing on the starter level home and on homes…(read more)

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