Despite a sluggish U.S. housing market, investor purchases saw a 3.4% rise year over year in Q2 2024, indicating a strengthening interest amid high mortgage rates.
Redfin's report shows that investors purchased $43 billion worth of homes in Q2 2024, marking a 13.7% increase year-over-year, the largest gain in two years.
Investors purchased 16.8% of homes sold in Q2 2024, showing a resilient presence in the market compared to a year ago, highlighting their less sensitivity to mortgage rates.
The increased investor activity reflects a tactical move to capitalize on strong rental demand, although rental price growth remains modest due to new apartment competition.
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