Big investors buy up homes in key markets, pull back in others

By Julie Schmit | USA TODAY

Big investors continue to expand into more cities for single-family homes as they pull back in others.

Last month, institutional investors, who largely buy single-family homes to turn into rentals, accounted for about one in four home sales in Atlanta, Las Vegas, St. Louis and Jacksonville, data from RealtyTrac show.

They also accounted for a big chunk of sales in Charlotte and Memphis.

Price gains will likely follow the investor buyers, says John Burns, CEO of John Burns Real Estate Consulting, as they did in earlier hot investor markets such as Phoenix and Sacramento.

Continued:

If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com

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October 29, 2013

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