{"id":77940,"date":"2024-05-15T05:00:26","date_gmt":"2024-05-15T12:00:26","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=77940"},"modified":"2024-05-14T12:36:09","modified_gmt":"2024-05-14T19:36:09","slug":"investor-home-purchases-q1-2024","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/investor-home-purchases-q1-2024\/","title":{"rendered":"Investor Home Purchases Rise for the First Time in Nearly Two Years"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i>Investor purchases climbed 0.5% from a year earlier in the first quarter\u2014the first uptick since mid-2022.\u00a0<\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i>California markets saw the largest increases, with investor purchases jumping more than 20% in San Jose and Oakland.<\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i>Investors are coming off of the sidelines partly because they\u2019re making more money; the typical home sold by an investor in March went for 55% more ($175,000) than the investor bought it for, up from 46% ($147,000) a year earlier.<\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i>Overall, investors bought 19% of homes that sold in the first quarter\u2014the highest share in almost two years.<\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i>Investors are purchasing more single-family homes and high-priced homes than they were last year. But they\u2019ve also gained share in the affordable market, buying a record 26% of low-priced homes that sold in the first quarter.<\/i><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Investor home purchases are rising\u2014albeit slightly\u2014for the first time in almost two years.\u00a0<\/span><span style=\"font-weight: 400;\">Real estate investors bought roughly 44,000 U.S. homes in the first quarter of 2024, up 0.5% from a year earlier\u2014the first increase since the second quarter of 2022.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> <img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-77942\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.15.42\u202fPM.png\" alt=\"\" width=\"764\" height=\"411\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.15.42\u202fPM.png 764w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.15.42\u202fPM-300x161.png 300w\" sizes=\"(max-width: 764px) 100vw, 764px\" \/><\/span><\/p>\n<p><span style=\"font-weight: 400;\">The gain was primarily driven by an increase in purchases of single-family homes, which we\u2019ll discuss in the following section.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is based on a Redfin analysis of county home purchase records across 39 of the most populous U.S. metropolitan areas. We define an investor as any institution or business that purchases residential real estate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investor activity in the housing market is stabilizing following several years of dramatic ups and downs. Investor home purchases more than <\/span><a href=\"https:\/\/www.redfin.com\/news\/investor-home-purchases-q2-2021\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">doubled<\/span><\/a><span style=\"font-weight: 400;\"> during the pandemic homebuying boom in 2021, and then <\/span><a href=\"https:\/\/www.redfin.com\/news\/investor-home-purchases-q1-2023\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">plunged<\/span><\/a><span style=\"font-weight: 400;\"> nearly 50% at the start of last year <\/span><span style=\"font-weight: 400;\">as declining rents and home values ate into potential profits. But now, with home prices and rents back on the rise and the initial shock of elevated mortgage rates in the rearview mirror, investors are easing their foot off the brake pedal.<\/span><\/p>\n<p><b>Investors are making more money than before:<\/b><span style=\"font-weight: 400;\"> Investors are reaping bigger profits than they were a year ago. The typical home sold by an investor in March went for 55.2% more ($174,616) than the investor bought it for. That\u2019s up from 46.3% ($146,586) a year earlier. Just 5.3% of homes sold by investors sold for a loss, down from 13.7% in March 2023.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-77943\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.19.45\u202fPM-1024x560.png\" alt=\"\" width=\"764\" height=\"418\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.19.45\u202fPM-1024x560.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.19.45\u202fPM-300x164.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.19.45\u202fPM-768x420.png 768w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.19.45\u202fPM.png 1094w\" sizes=\"(max-width: 764px) 100vw, 764px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Investor purchases also hit a low point in the first quarter of 2023\u2014part of the reason they\u2019re now rising on a year-over-year basis.<\/span><\/p>\n<p><b>Investors are buying up the biggest chunk of U.S. homes in almost two years: <\/b><span style=\"font-weight: 400;\">While investors are purchasing fewer homes than they were before and during the pandemic housing frenzy\u2014a result of today\u2019s relatively slow market\u2014they\u2019re still purchasing a fairly high <\/span><i><span style=\"font-weight: 400;\">share<\/span><\/i><span style=\"font-weight: 400;\"> of the homes. They bought 18.7% of U.S. homes that sold in the first quarter, up from 17.9% a year earlier and the highest percentage in almost two years.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-77944\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.20.01\u202fPM-1024x557.png\" alt=\"\" width=\"764\" height=\"416\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.20.01\u202fPM-1024x557.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.20.01\u202fPM-300x163.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.20.01\u202fPM-768x418.png 768w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-12.20.01\u202fPM.png 1090w\" sizes=\"(max-width: 764px) 100vw, 764px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Investors have seen their market share tick up because they\u2019ve come off the sidelines faster than individual buyers; overall U.S. home purchases <\/span><i><span style=\"font-weight: 400;\">fell <\/span><\/i><span style=\"font-weight: 400;\">3.9% from a year earlier in the first quarter as elevated mortgage rates deterred buyers (though it\u2019s worth noting that\u2019s the smallest growth in two years). <\/span><span style=\"font-weight: 400;\">Investors are less sensitive to mortgage rate fluctuations than regular buyers because most of them (69%) pay in cash, though they\u2019re still somewhat sensitive because they often take out different loans to cover home flipping and other expenses.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cInvestor activity is steady,\u201d said Dallas <\/span><a href=\"https:\/\/www.redfin.com\/premier\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Redfin Premier<\/span><\/a><span style=\"font-weight: 400;\"> agent <\/span><a href=\"https:\/\/www.redfin.com\/real-estate-agents\/connie-durnal\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Connie Durnal<\/span><\/a><span style=\"font-weight: 400;\">. \u201cWhen home prices got crazy high during the pandemic, investors sold out. But several months ago, they started to ramp back up. I\u2019m not seeing a lot of home flippers in our market, but there are a lot of investors looking for single-family homes to rent out, which are in short supply.\u201d<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Investors Are Buying More Single-Family Homes Than Before<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Investor purchases of single family homes rose 3.9% year over year in the first quarter, the first increase in nearly two years. Meanwhile, investor purchases of townhouses, condos\/co-ops and multifamily properties fell 8.6%, 6.4% and 2.5%, respectively. Investors are likely keen on single-family properties because that segment of the market has posted relatively strong rent growth\u2014AKA has stronger ROI potential\u2014and also has <\/span><a href=\"https:\/\/www.cbre.com\/insights\/articles\/sfr-rent-growth-slows-but-outpacing-multifamily\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">lower<\/span><\/a><span style=\"font-weight: 400;\"> tenant turnover.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors and individual buyers who <\/span><i><span style=\"font-weight: 400;\">are<\/span><\/i><span style=\"font-weight: 400;\"> in the market to buy a home are often duking it over the same properties, according to Redfin agents. And in some cases, investors are losing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe balance of power between investors and regular buyers is changing,\u201d said <\/span><a href=\"https:\/\/www.redfin.com\/real-estate-agents\/amira-elgoneimy\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Amira Elgoneimy<\/span><\/a><span style=\"font-weight: 400;\">, a Redfin Premier real estate agent in New Jersey. \u201cWhen there\u2019s a bidding war for a home, it has become more common for the winner to be the person who actually plans to live in the home. Individual buyers are sitting on a lot of cash from the sale of their previous house and pandemic savings, so they\u2019re willing to pay a little more upfront than investors, who have to be mindful of margins.\u201d<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Single-family homes represented 68.9% of investor purchases in the first quarter\u2014the highest percentage since mid-2022. Meanwhile, condos\/co-ops represented 18.7%, townhouses made up 7.2% and multifamily properties made up 5.3%\u2014all down from a year earlier.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors have also gained <\/span><i><span style=\"font-weight: 400;\">market share<\/span><\/i><span style=\"font-weight: 400;\"> in the single-family segment; 18.4% of U.S. single-family homes that sold in the first quarter were purchased by investors\u2014the highest share since mid-2022. Meanwhile, the share of other property types bought by investors fell from a year earlier, to 31.9% for multifamily properties and 18.1% for both condos\/co-ops and townhouses. Investors have a relatively large market share in the multifamily segment because those buildings are typically too expensive and not feasible for regular homebuyers, and apartments offer the potential for large returns from rental income.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Investors Are Buying More Expensive Homes Than Before<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Investor purchases of high-priced homes jumped 10.5% year over year in the first quarter\u2014the first increase in nearly two years. Meanwhile, investor purchases of mid-priced homes rose 4.7% (also the first increase in nearly two years), and investor purchases of low-priced homes fell 6.5%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Redfin divides home purchases<\/span><span style=\"font-weight: 400;\"> into three buckets: low-priced, mid-priced and high-priced. <\/span><span style=\"font-weight: 400;\">Low-priced homes are those that fall into the bottom tercile of local sale prices, while mid-priced are those in the middle tercile and high-priced are those in the top tercile.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The typical home bought by investors in the first quarter cost $464,560, up 9.2% from a year earlier. Investors purchased $31.3 billion worth of homes in the first quarter, up 6.6% year over year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investor purchases of high-priced homes are on the rise in part because investors are buying more single-family homes, which tend to be more expensive than condos and townhouses. But they\u2019re also on the rise because investors have been buying more homes in expensive California markets, which we\u2019ll discuss later in the report.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">But Investors Are Also Buying a Record 26% of America\u2019s Most Affordable Homes<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While high-priced homes made up the biggest <\/span><i><span style=\"font-weight: 400;\">increase<\/span><\/i><span style=\"font-weight: 400;\"> in investor purchases in the first quarter, low-priced homes were still the preferred property type. Low-priced homes represented 47.5% of investor purchases in the first quarter, while high-priced homes represented 28.5% and mid-priced homes represented 24%. Investors also have a relatively high <\/span><i><span style=\"font-weight: 400;\">market<\/span><\/i> <i><span style=\"font-weight: 400;\">share<\/span><\/i><span style=\"font-weight: 400;\"> in the affordable market. They bought a record 26.1% of low-priced U.S. homes that sold in the first quarter, compared with 16.4% of high-priced homes and 13.4% of mid-priced homes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors are drawn to affordable homes for the same reason homebuyers are: They cost less, which is especially attractive when home prices and borrowing costs remain elevated. And when housing affordability is this <\/span><a href=\"https:\/\/www.redfin.com\/news\/share-of-homes-affordable-new-2023\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">strained<\/span><\/a><span style=\"font-weight: 400;\">, there could be more potential for value increases in the lower price tier, meaning more potential for building equity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201c<\/span><span style=\"font-weight: 400;\">Any home that is entry-level is immediately pounced on,\u201d said <\/span><a href=\"https:\/\/www.redfin.com\/real-estate-agents\/brian-connelly\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Brian Connelly<\/span><\/a><span style=\"font-weight: 400;\">, a Redfin Premier agent in Boston. \u201cThere\u2019s a mix of first-time homebuyers, investors and second-home buyers all fighting for homes.\u201d<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Investor Home Purchases Are Soaring in California<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In San Jose, CA, investor home purchases jumped 27.8% year over year in the first quarter\u2014the biggest increase among the metros Redfin analyzed. Next came Oakland, CA (22%), Minneapolis (21.6%), Sacramento, CA (20.1%) and San Francisco (18.5%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The aforementioned metros also saw among the largest increases in <\/span><i><span style=\"font-weight: 400;\">overall <\/span><\/i><span style=\"font-weight: 400;\">home purchases in the first quarter. The Bay Area\u2019s housing market has been <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-san-francisco-migration-q4-2023\/\"><span style=\"font-weight: 400;\">bouncing back<\/span><\/a><span style=\"font-weight: 400;\"> after slowing substantially during the pandemic. People aren&#8217;t moving out at the pace they were before, and California is now seeing some of the <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-home-price-cost-increases\/\"><span style=\"font-weight: 400;\">steepest<\/span><\/a><span style=\"font-weight: 400;\"> increases in home prices and sales in the country, which investors may see as an opportunity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investor home purchases fell fastest in relatively affordable markets in the Midwest and on the East Coast. In Cincinnati, they declined 22.1% from a year earlier\u2014the biggest drop among the metros Redfin analyzed. Next came Baltimore (-22%), Providence, RI (-20.2%), Virginia Beach, VA (-15.1%) and Chicago (-14.6%).<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Other Metro-Level Highlights<\/span><\/h3>\n<p><b><i>Where investors bought the highest\/lowest share of homes that sold: Q1 2024<\/i><\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Highest share: <\/b><span style=\"font-weight: 400;\">In Miami, investors bought 30.6% of homes that sold. Next came Cleveland (24.6%), Jacksonville, FL (24.5%), San Diego (23.6%) and San Francisco (23.4%).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Lowest share:<\/b><span style=\"font-weight: 400;\"> Providence, RI (10.5%), Montgomery County, PA (10.8%), Warren, MI (11.3%), Washington, D.C. (11.7%) and Seattle (11.7%).<\/span><\/li>\n<\/ul>\n<p><b><i>Where the share of homes bought by investors increased\/decreased most from a year earlier: Q1 2024<\/i><\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Biggest increases: <\/b><span style=\"font-weight: 400;\">In Oakland, investors bought 16.9% of homes that sold, up 2.9 percentage points from a year earlier. Next came Las Vegas (2.7 ppts), Tampa, FL (2.6 ppts), Phoenix (2.5 ppts) and Riverside, CA (2.4 ppts).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Biggest decreases:<\/b><span style=\"font-weight: 400;\"> Cincinnati (-3.1 ppts), Baltimore (-2.6 ppts), Chicago (-1.6 ppts), Providence (-1.1 ppts) and Seattle (-1.1 ppts).<\/span><\/li>\n<\/ul>\n<p><b><i>Where investors had the largest median capital gains: March 2024<\/i><\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In Philadelphia, the typical home sold by an investor sold for 136.2% more than the investor bought it for. Next came Cincinnati (120%), Virginia Beach (97%), Newark, NJ (96.6%) and Columbus, OH (94.3%).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In San Francisco, the typical home sold by an investor sold for 28.7% more than the investor bought it for. It was followed by Phoenix (34.4%), Las Vegas (37%), Sacramento (39.5%) and Denver (42.5%).<\/span><\/li>\n<\/ul>\n<h3>Metro Summary: Investor Home Purchases, Q1 2024<\/h3>\n\n<table id=\"tablepress-403\" class=\"tablepress tablepress-id-403\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>U.S. metro area<\/strong><\/th><th class=\"column-2\"><strong>Investor purchases, YoY change<\/strong><\/th><th class=\"column-3\"><strong>Total value of homes bought by investors<\/strong><\/th><th class=\"column-4\"><strong>Median purchase price of homes bought by investors<\/strong><\/th><th class=\"column-5\"><strong>Share of purchased homes bought by investors<\/strong><\/th><th class=\"column-6\"><strong>Share of purchased homes bought by investors, YoY change (ppts)<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Anaheim, CA<\/td><td class=\"column-2\">8.2%<\/td><td class=\"column-3\">$1,991,337,500 <\/td><td class=\"column-4\">$1,250,000 <\/td><td class=\"column-5\">22.7%<\/td><td class=\"column-6\">0.2 ppts<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Atlanta, GA<\/td><td class=\"column-2\">-3.8%<\/td><td class=\"column-3\">$1,004,304,626 <\/td><td class=\"column-4\">$264,000 <\/td><td class=\"column-5\">21.1%<\/td><td class=\"column-6\">1.1 ppts<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Baltimore, MD<\/td><td class=\"column-2\">-22.0%<\/td><td class=\"column-3\">$314,387,221 <\/td><td class=\"column-4\">$175,000 <\/td><td class=\"column-5\">19.7%<\/td><td class=\"column-6\">-2.6 ppts<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Charlotte, NC<\/td><td class=\"column-2\">3.0%<\/td><td class=\"column-3\">$459,679,457 <\/td><td class=\"column-4\">$282,500 <\/td><td class=\"column-5\">20.4%<\/td><td class=\"column-6\">1.5 ppts<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Chicago, IL<\/td><td class=\"column-2\">-14.6%<\/td><td class=\"column-3\">$576,325,634 <\/td><td class=\"column-4\">$230,000 <\/td><td class=\"column-5\">13.4%<\/td><td class=\"column-6\">-1.6 ppts<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Cincinnati, OH<\/td><td class=\"column-2\">-22.1%<\/td><td class=\"column-3\">$165,139,003 <\/td><td class=\"column-4\">$160,000 <\/td><td class=\"column-5\">18.6%<\/td><td class=\"column-6\">-3.1 ppts<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Cleveland, OH<\/td><td class=\"column-2\">0.4%<\/td><td class=\"column-3\">$161,718,467 <\/td><td class=\"column-4\">$109,000 <\/td><td class=\"column-5\">24.6%<\/td><td class=\"column-6\">-0.2 ppts<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Columbus, OH<\/td><td class=\"column-2\">-5.9%<\/td><td class=\"column-3\">$210,443,003 <\/td><td class=\"column-4\">$200,000 <\/td><td class=\"column-5\">17.3%<\/td><td class=\"column-6\">-0.9 ppts<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Denver, CO<\/td><td class=\"column-2\">12.0%<\/td><td class=\"column-3\">$697,698,237 <\/td><td class=\"column-4\">$500,000 <\/td><td class=\"column-5\">15.3%<\/td><td class=\"column-6\">1.8 ppts<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Detroit, MI<\/td><td class=\"column-2\">4.1%<\/td><td class=\"column-3\">$105,728,278 <\/td><td class=\"column-4\">$85,000 <\/td><td class=\"column-5\">20.3%<\/td><td class=\"column-6\">-0.6 ppts<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Fort Lauderdale, FL<\/td><td class=\"column-2\">-4.2%<\/td><td class=\"column-3\">$806,327,628 <\/td><td class=\"column-4\">$375,000 <\/td><td class=\"column-5\">20.0%<\/td><td class=\"column-6\">0.9 ppts<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Jacksonville, FL<\/td><td class=\"column-2\">-8.6%<\/td><td class=\"column-3\">$373,191,952 <\/td><td class=\"column-4\">$240,250 <\/td><td class=\"column-5\">24.5%<\/td><td class=\"column-6\">2.2 ppts<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Las Vegas, NV<\/td><td class=\"column-2\">14.9%<\/td><td class=\"column-3\">$895,865,757 <\/td><td class=\"column-4\">$407,000 <\/td><td class=\"column-5\">22.7%<\/td><td class=\"column-6\">2.7 ppts<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Los Angeles, CA<\/td><td class=\"column-2\">4.6%<\/td><td class=\"column-3\">$3,690,249,068 <\/td><td class=\"column-4\">$999,000 <\/td><td class=\"column-5\">20.7%<\/td><td class=\"column-6\">0.7 ppts<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Miami, FL<\/td><td class=\"column-2\">-3.1%<\/td><td class=\"column-3\">$1,758,931,050 <\/td><td class=\"column-4\">$480,000 <\/td><td class=\"column-5\">30.6%<\/td><td class=\"column-6\">-1.1 ppts<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Milwaukee, WI<\/td><td class=\"column-2\">-4.5%<\/td><td class=\"column-3\">$112,805,903 <\/td><td class=\"column-4\">$132,500 <\/td><td class=\"column-5\">19.4%<\/td><td class=\"column-6\">0.4 ppts<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Minneapolis, MN<\/td><td class=\"column-2\">21.6%<\/td><td class=\"column-3\">$339,209,772 <\/td><td class=\"column-4\">$278,800 <\/td><td class=\"column-5\">12.7%<\/td><td class=\"column-6\">1.3 ppts<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Montgomery County, PA<\/td><td class=\"column-2\">-2.9%<\/td><td class=\"column-3\">$158,431,333 <\/td><td class=\"column-4\">$292,000 <\/td><td class=\"column-5\">10.8%<\/td><td class=\"column-6\">0.4 ppts<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Nashville, TN<\/td><td class=\"column-2\">1.7%<\/td><td class=\"column-3\">$439,073,893 <\/td><td class=\"column-4\">$376,200 <\/td><td class=\"column-5\">17.4%<\/td><td class=\"column-6\">1.2 ppts<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">New Brunswick, NJ<\/td><td class=\"column-2\">-10.8%<\/td><td class=\"column-3\">$460,032,891 <\/td><td class=\"column-4\">$427,000 <\/td><td class=\"column-5\">13.2%<\/td><td class=\"column-6\">0.0 ppts<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">New York, NY<\/td><td class=\"column-2\">0.7%<\/td><td class=\"column-3\">$2,745,035,425 <\/td><td class=\"column-4\">$760,000 <\/td><td class=\"column-5\">20.6%<\/td><td class=\"column-6\">0.7 ppts<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">Newark, NJ<\/td><td class=\"column-2\">-1.3%<\/td><td class=\"column-3\">$305,431,880 <\/td><td class=\"column-4\">$430,000 <\/td><td class=\"column-5\">15.6%<\/td><td class=\"column-6\">1.3 ppts<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Oakland, CA<\/td><td class=\"column-2\">22.0%<\/td><td class=\"column-3\">$842,352,000 <\/td><td class=\"column-4\">$1,019,000 <\/td><td class=\"column-5\">16.9%<\/td><td class=\"column-6\">2.9 ppts<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">Orlando, FL<\/td><td class=\"column-2\">-5.4%<\/td><td class=\"column-3\">$706,906,651 <\/td><td class=\"column-4\">$320,000 <\/td><td class=\"column-5\">22.5%<\/td><td class=\"column-6\">0.3 ppts<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">Philadelphia, PA<\/td><td class=\"column-2\">-4.1%<\/td><td class=\"column-3\">$165,997,665 <\/td><td class=\"column-4\">$135,000 <\/td><td class=\"column-5\">20.0%<\/td><td class=\"column-6\">-0.1 ppts<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Phoenix, AZ<\/td><td class=\"column-2\">9.3%<\/td><td class=\"column-3\">$1,969,755,247 <\/td><td class=\"column-4\">$415,000 <\/td><td class=\"column-5\">21.3%<\/td><td class=\"column-6\">2.5 ppts<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">Portland, OR<\/td><td class=\"column-2\">1.4%<\/td><td class=\"column-3\">$263,340,142 <\/td><td class=\"column-4\">$490,000 <\/td><td class=\"column-5\">12.8%<\/td><td class=\"column-6\">1.2 ppts<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">Providence, RI<\/td><td class=\"column-2\">-20.2%<\/td><td class=\"column-3\">$90,245,400 <\/td><td class=\"column-4\">$311,750 <\/td><td class=\"column-5\">10.5%<\/td><td class=\"column-6\">-1.1 ppts<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">Riverside, CA<\/td><td class=\"column-2\">12.6%<\/td><td class=\"column-3\">$1,276,553,817 <\/td><td class=\"column-4\">$555,000 <\/td><td class=\"column-5\">20.4%<\/td><td class=\"column-6\">2.4 ppts<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">Sacramento, CA<\/td><td class=\"column-2\">20.1%<\/td><td class=\"column-3\">$597,468,000 <\/td><td class=\"column-4\">$553,750 <\/td><td class=\"column-5\">19.4%<\/td><td class=\"column-6\">2.4 ppts<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">San Diego, CA<\/td><td class=\"column-2\">12.5%<\/td><td class=\"column-3\">$1,813,529,955 <\/td><td class=\"column-4\">$1,000,000 <\/td><td class=\"column-5\">23.6%<\/td><td class=\"column-6\">1.9 ppts<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">San Francisco, CA<\/td><td class=\"column-2\">18.5%<\/td><td class=\"column-3\">$1,167,561,140 <\/td><td class=\"column-4\">$1,750,000 <\/td><td class=\"column-5\">23.4%<\/td><td class=\"column-6\">1.9 ppts<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">San Jose, CA<\/td><td class=\"column-2\">27.8%<\/td><td class=\"column-3\">$876,247,000 <\/td><td class=\"column-4\">$1,653,750 <\/td><td class=\"column-5\">17.1%<\/td><td class=\"column-6\">1.6 ppts<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">Seattle, WA<\/td><td class=\"column-2\">-7.8%<\/td><td class=\"column-3\">$560,660,165 <\/td><td class=\"column-4\">$808,433 <\/td><td class=\"column-5\">11.7%<\/td><td class=\"column-6\">-1.1 ppts<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">Tampa, FL<\/td><td class=\"column-2\">6.7%<\/td><td class=\"column-3\">$949,317,966 <\/td><td class=\"column-4\">$295,000 <\/td><td class=\"column-5\">20.4%<\/td><td class=\"column-6\">2.6 ppts<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">Virginia Beach, VA<\/td><td class=\"column-2\">-15.1%<\/td><td class=\"column-3\">$168,443,419 <\/td><td class=\"column-4\">$201,500 <\/td><td class=\"column-5\">12.4%<\/td><td class=\"column-6\">-0.4 ppts<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">Warren, MI<\/td><td class=\"column-2\">-1.7%<\/td><td class=\"column-3\">$142,720,428 <\/td><td class=\"column-4\">$162,500 <\/td><td class=\"column-5\">11.3%<\/td><td class=\"column-6\">0.9 ppts<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">Washington, D.C.<\/td><td class=\"column-2\">1.1%<\/td><td class=\"column-3\">$716,599,859 <\/td><td class=\"column-4\">$415,000 <\/td><td class=\"column-5\">11.7%<\/td><td class=\"column-6\">0.8 ppts<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">West Palm Beach, FL<\/td><td class=\"column-2\">0.9%<\/td><td class=\"column-3\">$1,225,176,370 <\/td><td class=\"column-4\">$516,000 <\/td><td class=\"column-5\">20.0%<\/td><td class=\"column-6\">1.5 ppts<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\"><strong>National<\/strong><\/td><td class=\"column-2\"><strong>0.5%<\/strong><\/td><td class=\"column-3\"><strong>$31,304,223,202 <\/strong><\/td><td class=\"column-4\"><strong>$464,560 <\/strong><\/td><td class=\"column-5\"><strong>18.7%<\/strong><\/td><td class=\"column-6\"><strong>0.8 ppts<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-403 from cache -->\n<h3><span style=\"font-weight: 400;\">Methodology<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">For this analysis, we looked at county sale records for homes purchased from January 2000 through March 2024. We define an investor as any buyer whose name includes at least one of the following keywords: LLC, Inc, Trust, Corp, Homes. We also define an investor as any buyer whose ownership code on a purchasing deed includes at least one of the following keywords: association, corporate trustee, company, joint venture, corporate trust. This data may include purchases made through family trusts for personal use.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We analyzed home sales in the 50 most populous metro areas, but only included 39 metros in this report due to non-disclosure of sale prices in some counties. The national figures in this report represent an aggregation of those 39 metros.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When we refer to a \u201crecord,\u201d the record dates back to the first quarter of 2000. Data is subject to revision.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investor purchases climbed 0.5% from a year earlier in the first quarter\u2014the first uptick since mid-2022.\u00a0 California markets saw the largest increases, with investor purchases jumping more than 20% in San Jose and Oakland. Investors are coming off of the sidelines partly because they\u2019re making more money; the typical home sold by an investor in [&hellip;]<\/p>\n","protected":false},"author":13346,"featured_media":77946,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8,582],"tags":[627,623],"coauthors":[125],"class_list":["post-77940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","category-investors","tag-investor-report","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Investor Home Purchases Rise for First Time in Nearly Two Years<\/title>\n<meta name=\"description\" content=\"Overall, investors bought 19% of homes that sold in the first quarter\u2014the highest shIare in almost two years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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