By Jonathan Smoke | realtor.com
Look out, first-time buyers. Your biggest competition is not other real estate newbies like yourselves, but mom and pop investors looking to establish a stream of rental income. Darn you, mom and pop! A recent report shows that these deep-pocketed investors are focusing on the most affordable segments of the market: smaller homes in both suburban and urban areas.
The National Association of Realtors® released the 2016 Investment and Vacation Home Buyers Report last week, providing insight into consumer-driven home purchases. The report, which has been conducted annually since 2003, is based on a survey of U.S. consumers who purchased a residential property in 2015—whether it’s their primary residence, an investment home, or a vacation home.