Phoenix No. 1 housing market negatively impacted by investors

By AZ Business Magazine | AZ Big Media

Phoenix investors had a significant impact on the housing market in April, taking away 429 units of inventory. Nationally, investors took more inventory off the market than they contributed in April; with their purchases representing 5.7% of all home sales.

Despite the common perception that investors are always in competition with everyday buyers, new findings from the Realtor.com Investor Report shows that isn’t always the case. According to the data, investors are exacerbating the inventory shortage in 31 of the top 50 U.S. markets, but in roughly 19 markets – including Atlanta, Dallas, Baltimore, Los Angeles and San Francisco – they are actually helping to replenish the number of homes for sale.

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