Redfin reports investor home purchases fell 30% in third quarter, largest drop since great recession aside from pandemic start
Investor home purchases fell 30.2 percent year-over-year nationwide in the third quarter, according to a new report from Redfin. That is the largest decline since the Great Recession aside from the second quarter of 2020, when investor activity plummeted due to the onset of the pandemic. It outpaced a 27.4 percent drop in overall home purchases nationwide.
Investor purchases slumped 26.1 percent on a quarter-over-quarter basis, the largest quarterly decline on record with the exception of the start of the pandemic. That compares with a 17.4 percent quarterly drop in overall home purchases.
Investors lost market share for the second quarter in a row as they pumped the brakes on purchases. They bought