New real estate data shows investor home purchases rose by their largest amount in two years.
While the number of homes purchased by investors rose 3% nationally, in Atlanta, data from real estate company Redfin showed investors bought about a third of what they did this quarter versus the same time in 2022, but month-to-month, the market report showed a boost in how much they’re picking up.
In the last quarter, investors snagged 3,322 homes, more than one-fifth of the overall home sales over the three months ending in June.
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This quarter, starting in July, the market share of investor homes has gone down but the number of homes bought by companies instead of individuals or families rose to 3,805 in the Atlanta metro.
Year-over-year, Atlanta home sales to investors was down 1.5%, according to Redfin, with 18.2% of the market bought by companies, and the median purchase price at $272,000 in the metro from July.
However, the median sale price in June, on its own, was $434,460 according to Redfin, a 4.7% markup from the year before. Home sales generally were also down 16.1%, and homes for sale were staying on the market 16 days longer than in 2023.