91% of Real Estate Investors Anticipate Growth in 2024, New Survey Finds
The survey highlights a significant level of optimism among real estate investors, particularly in the single-family market.
Ninety-one percent of investors expect 2024 to be a growth year, according to new research from New Western. The survey, which focused on the single-family real estate market, included responses from 1,300 independent investors. Despite the ongoing challenges in the current market, the majority of investors remain optimistic about their business prospects in the coming year.
In addition to the overall growth expectations, the survey also found that 80% of investors are planning to flip one to five homes throughout 2024. This suggests that many investors are taking a proactive approach to capitalize on potential opportunities in the market.
New Western’s report also provided insights into the specific market dynamics that are driving investor sentiment. The report noted that the company saw a significant influx of new investors in 2023, with 68,000 new investors looking for properties to rehab. This influx of new investors is likely to be a key factor in the overall growth expectations for 2024.
The research highlighted the important role that local investors play in addressing the housing and affordability crisis. New Western’s president and co-founder, Kurt Carlton, emphasized the need for a collaborative approach to addressing these issues, stating that “builders and the government alone can’t fix our housing infrastructure issues.”
Carlton went on to note that the current housing shortfall, combined with the high number of vacant and aging homes, presents a unique opportunity for investors to make a positive impact on their communities.
In contrast to the broader market, which is often dominated by large institutional investors, New Western’s survey found that the majority of its investor base is made up of local, independent investors. This focus on the single-family market, as well as the company’s extensive network of local investors, allows New Western to offer a more diverse range of investment opportunities.
Looking ahead, the survey results suggest that New Western’s investor base is likely to remain focused on the single-family market. In addition to the ongoing demand for home flipping, the report also noted that many investors are increasingly looking to take advantage of the long-term rental market.