Real estate investors and second-home buyers accounted for 20% of existing-home sales nationwide in September, up from 15% in August, according to the National Association of Realtors. Meanwhile, larger institutional investors are taking a different approach, with publicly traded single-family rental companies selling more homes than they purchased during the second quarter. Overall, existing-home sales rose 1.5% in September, although higher mortgage rates continue to challenge affordability.
Locally in the OKC market, we’re seeing corporate buyers looking to off-load their inventory. Rising interest rates and the reality of residential real estate, one would speculate, didn’t justify the investment made mid and post Covid. Local investors can take advantage by landing turn key properties at a relative discount.