Redfin reports investor home purchases hit record
Real estate investors purchased 67,943 U.S. homes in the second quarter of 2021, the highest quarterly figure on record, according to a new report from Redfin. Redfin defines an investor as any institution or business that purchases residential real estate.
Home purchase numbers are up 51 percent from the prior quarter, and up 106.7 percent from the second quarter of 2020, when activity in the housing market was stalled due to pandemic restrictions.
In dollar terms, investors bought a record $48.5 billion worth of homes in the second quarter, up from $38.9 billion in the prior quarter and $20.9 billion a year earlier. The typical home they purchased cost $439,600 — 23.7 percent higher than a year earlier — amid surging housing prices.
“Investors see soaring home prices as an opportunit