Investor home purchases hit record levels in the second quarter and have officially surpassed pandemic levels, with investors snapping up $49 billion in properties.
A new report from Redfin shows that Q2 figures are up 15.1% over first quarter numbers and up a whopping 106.7% year-over-year. In Q1, real estate investors bought $38.9 billion in homes, and in the second quarter of last year, when the market stalled as the result of the COVID-19 pandemic, they purchased $20.9 billion.
Overall, investor market share is nearly at pre-pandemic levels, with investors buying one in six homes on the market in Q2. That figure is just below the record market share investors held immediately prior to the pandemic's onset in Q1 2020.
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