Research - JULY 22, 2021

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Redfin reports investor home purchases hit record

by Andrea Zander

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

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.