May 23, 2024 - Real Estate

🏡 1 number to go: Investor homebuyers

A choropleth map shows the share of U.S. home purchases made by investors in each state. The data ranges from 18.3% in South Dakota to 35.2% in California. The share in the U.S. overall is 27.2%.
Data: CoreLogic. Map: Axios Visuals

Nearly a quarter of homes purchased in Oregon last year were bought by investors, according to a recent report from CoreLogic

State of play: Higher interest rates haven't fazed home investors nationally.

  • Nothing suggests their share of U.S. home purchases will retreat to pre-pandemic levels, which were less than 20%, economist Thomas Malone wrote.

The big picture: Investor hot spots were primarily in the Sunbelt, even as home price growth favored other areas in 2023, such as the Upper Midwest and the Northeast.

  • "Investors have their preferred locations, and don't seem to chase short-term price trends," Malone told Axios.
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