US Housing Market: Mixed Results for Homeowners and Investors.
Real estate investors purchased 48.6% fewer homes in Q1 2023 than a year earlier, with major U.S. cities, including some in Florida, seeing investor home purchases plunge over 50%. The report shows declining rents and housing values continue to eat at investors' profits, causing them to pump the brakes as interest rates rise. Investors who are still in the market are gravitating toward more affordable properties such as starter homes with 1,400 or fewer square feet, up 37.2% from last year.