VRMA Administrator
With mortgage rates and home prices rising, the share of houses purchased by investors nationally has remained relatively stable for two years, according to real estate analytics firm CoreLogic. Investors purchased 24 percent of all single-family houses in July 2021 and 26 percent in June 2023. “We’re seeing a trend of people buying a second home first, particularly during the pandemic when younger buyers who were priced out of their home markets began buying more vacation homes,” said Daned Kirkham, senior director of real estate for Vacasa. “More people are seeing real estate as an asset class they want to own, plus, if they can own a place where they can work remotely or vacation in and still earn some rental income, that can be a good way to diversify their investments.”
Washington Post (09/23/23) Michele Lerner
