SEATTLE, May 19, 2021 /PRNewswire/ — (NASDAQ: RDFN) — U.S. home purchases by investors rose 2.7% year over year in the first quarter, marking the first period of growth since the coronavirus pandemic began, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That follows three consecutive quarters of declines, during which investor purchases slumped by as much as 45.5%.
Redfin defines an investor as any institution or business that purchases residential real estate.
Investors bought about 1 of every 7 U.S. homes (14.9%) in the first quarter—a rebound from the prior three quarters, during which they bought closer to 1 in 10 homes. Investor market share is now just shy of the 16.1% level it hit in the first quarter of 2020, when the pandemic had barely begun.
“Investors are likely starting to feel more comfortable because the economy is in recovery mode,” Redfin Senior…