Almost 1 in every 5 American homes sold in the third quarter of this year was bought by an investor entity rather than an individual looking to live in or rent out the home, according to data from Redfin, a brokerage. Investors snatched up more than 90,000 houses totaling more than $63 billion, representing 18 percent of all homes sold in the quarter. The numbers all broke records in Redfin data reaching back to 2000. “Increasing home prices fueled by an intense housing shortage have created opportunities for investors to reap big profits,” said Redfin Senior Economist Sheharyar Bokhari in a Nov. 15 release. “Those same factors have pushed more Americans to rent, which also creates opportunities for investors because investors typically turn the homes they purchase into rentals and can now charge higher rents.” Rent for single-family homes surged more than 10 percent in the 12 months through September, …
Nearly 1 in 5 American Homes Bought by Investors in Last Quarter Sales
November 16, 2021
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