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Fla. has 4 of the top 10 cities for real estate investors, but they’re pulling back. U.S. investor purchases dropped 11.5% in 1Q 2022 compared to the previous quarter.
SEATTLE – The number of homes purchased by real estate investors in the first quarter declined 11.5% from the quarter before – and 16.5% from the third quarter of 2021, when investor purchases hit a record high, according to a report from Redfin.
Investor purchases still remain above pre-pandemic levels, and investors buy a larger share of America’s homes than ever before – a record 20% of homes sold in the first quarter, up from 19.2% one quarter earlier and 15.3% one year earlier. While total home sales declined, investors’ share remained strong.
In Florida, four cities made Redfin’s top-10 list for investors, but those also saw a quarter-to-quarter decline in 2022’s first quarter.
Share of homes purchased by investors in 1Q 2022
- 33.1%: Atlanta – down 25.3% quarter-to-quarter
- 32.3%: Jacksonville – down 21.7%
- 32.2%: Charlotte, N.C. – down 19.1%
- 29.0%: Phoenix – down 8.6%
- 28.2%: Miami – down 3.6%
- 26.8%: Las Vegas – down 16.5%
- 25.7%: Orlando – down 12.9%
- 24.7%: Tampa – down 16.5%
- 24.6%: Nashville – down 16.5%
- 22.8%: Columbus, Ohio – down 20.5%
Excerpted from the Florida Realtors Newsletter
Click here to read the whole article.
