Overview

• Investors purchased 265,000 homes in the first quarter, accounting for 27% of sales and marking the highest share in at least five years.
• This ratio far exceeds the 18.5% average seen from 2020 to 2023, reflecting affordability pressures on traditional buyers.
• Elevated mortgage rates have deterred many would-be homeowners, lengthening time on market and boosting inventory levels.
• Mom-and-pop investors account for 85% of investor-held single-family properties, while institutional firms represent just 2.2% and sold more homes than they acquired in the second quarter.
• Investor-owned homes now comprise roughly 20% of the nation’s 86 million single-family houses, underlining a structural shift in market composition.