This year's relatively cool housing and rental markets have made investing in homes less attractive than it was during the pandemic-driven homebuying frenzy of 2021 and early 2022, according to a new report from Redfin.

Investor home purchases fell 45% from a year earlier in the second quarter, topping the 31% drop in overall home sales, according to Redfin.

It's the biggest decline since 2008 apart from the quarter before, when they dropped 48%.

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