Imagine being outbid for a single family home by a corporation. That was all too real for the last few years as investor real estate purchases surged, fueling the Pandemic Housing Boom and and pricing many aspiring home buyers out of the market.
Last year the average 30-year fixed mortgage rate rose to over 7%. The year before, mortgage rates were at historic lows and demand was high, which fueled an investor frenzy within the housing market. Real estate brokerage Redfin’s new report shows just how much of a difference there is in investor residential real estate purchases between the two years.
