So-called institutional homebuyers noticeably ramped up home purchases during the COVID-19 pandemic. But housing experts point out investors have retreated amid high interest rates.
A construction worker, who declined to give their name, rolls up hosing as they work on building a home at a new housing development in Odessa on March 12, 2022.As the nation’s housing affordability crisis continues unabated, lawmakers and housing advocates have increasingly concentrated scrutiny on so-called institutional homebuyers, meaning investors big and small as well as corporations who buy single-family homes to rent them out.
Investors ramped up their home purchasing noticeably during the pandemic, when interest rates were at historic lows. Texas, in particular, was a major hotbed for investor activity in the homebuying market as demand for housing skyrocketed amid the state’s robust growth.— 28% of all homes sold that year went to an institutional investor. That share was even greater in exceptionally high growth markets like Tarrant County, where investors accounted for some 52% of home sales.
Institutional investors aren’t buying as many homes as they did during the pandemic, owing to high interest rates. Investors with at least 1,000 homes in their portfolio made up 0.4% of U.S. home purchases at the end of the fourth quarter last year, according to figures provided by John Burns Research and Consulting, a firm that tracks the housing industry. That’s down from a peak of 2.4% in 2022.
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