By Meghan Hoyer and Julie Schmit | USA Today
Major real estate investors are continuing to expand into more cities as they look for single-family homes to buy and turn into rentals.
In April, institutional investors bought 10 percent of the houses sold in the nation’s 100 busiest real estate markets, up from 5 percent the year before, according to real estate tracker Radar Logic.
The increase underscores how important investors such as Wall Street investment funds are to the national housing recovery. Their appetite for homes has helped drive prices up faster than many real estate forecasters expected even a year ago.
Radar Logic’s analysis of activity in the top 100 metros for housing defined institutional investors as corporations, investment trusts or partnerships.
Its findings include:
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If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com
