U.S. investor home purchases ticked up 2 percent from a year earlier in the fourth quarter, coming in at just under 50,000, according to a new report from Redfin. That’s the eighth straight quarter of minimal changes in investor activity.
Investor activity varies widely from metro to metro. Investor home purchases are up by double digits in West Coast cities, including Seattle, San Francisco and Portland, Ore., and down by double digits in some Florida cities.
Nationwide, investor activity has flattened after wild swings during the pandemic because it doesn’t make financial sense for flippers or landlords to buy property in most of the country. High home prices and mortgage rates are pricing many individual buyers out of the market,
