Investors are bullish that more Americans will choose to be renters, and they’re buying up even more single-family homes to make sure they are ahead of the trend. The number of homes purchased by major investors in 2017 was about 29,000, up 60 percent from the previous year, according to Amherst Capital Management LLC, a real estate investment firm. That is also the first time since 2013 that investors purchased more homes on an annual basis.
Investors are increasingly eyeing single-family homes over apartments. A rising number of apartments in recent years have increased vacancies and driven down rental yields. That has prompted investors to turn back to single-family homes for rentals.
Investors are reportedly raising billions of dollars to purchase more homes this year, and they are targeting areas like Atlanta, Phoenix, and other metros with fast-growing economies.
READ MORE: https://magazine.realtor/daily-news/2018/07/11/wall-street-is-taking-an-even-bigger-bet-on-rentals
