More than one in every four low-priced homes sold in the U.S. in 4Q 2023 was bought by an investor, Redfin reports.
"I get tons of emails every day from investors looking for properties, but of course, they only want homes that are under market value, which are hard to come by. When they find those properties, they pile in," according to a company agent in Riverside, CA.
It is the same story in many other cities, including Atlanta. "They go after every listing under $500,000 … it's like clockwork," a realtor in Alpharetta, an Atlanta suburb, told the Atlanta Journal-Constitution. "The property gets listed and, sight unseen, they make offers within an hour."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
