Investors have gone cold when it comes to purchasing homes in the previously hot Sunbelt markets, according to new data from Redfin.
Rising mortgage rates, high home prices, and a lackluster rental market were the culprits.
It found that the seven metros where investor purchases declined fastest are Atlanta (49.7% drop), Charlotte (-49.6%), Jacksonville (-48.2%), Phoenix (-47.4%), Las Vegas (-43.3%), Orlando (-42.6%) and Tampa (-41.3%).
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