Investors purchased a record $64 billion worth of homes as growing housing and rental prices boosted prospects for returns.
Single-family homes made up nearly three-quarters of investor purchases—an all-time high.
Low-priced properties represented 36% of investor purchases, the smallest share on record.
Investors had the largest market share in Atlanta, Phoenix, Charlotte, Jacksonville and Miami, meaning many homes they bought face high flood and heat risk.
The third quarter marked the 5th quarter in a row of 3%+ growth (average of 4.65% a quarter). Those 5 quarters also saw the highest level of overall real estate appreciation in history (23%).
Luckily loans aren’t being given out to fraudulent applicants. And as we all know, the only way real estate can drop is if the exact same conditions from that one drop that one time 13 years ago happens again.
First Time Homebuyers as a percentage of all homebuyers is now at a historic low of 30%.