Investor buying of homes dropped 30% in the third quarter, hurt by a rise in borrowing rates and high home prices
Buying activity by companies fell in line with the decline in overall home sales amid higher borrowing costs
Housing is one of the most weighted categories when tracking inflation, but it’s also one of the most complicated to measure. WSJ’s David Harrison explains how the shelter index is calculated, and why it can muddy the inflation outlook for the Fed. Illustration: Laura KammermannInvestor buying of homes tumbled 30% in the third quarter, a sign that the rise inand high home prices that pushed traditional buyers to the sidelines are causing these firms to pull back, too.
Companies bought around 66,000 homes in the 40 markets tracked by real-estate brokerage Redfin during the third quarter, compared with 94,000 homes during the same quarter a year ago. The percentage decline in investor purchases was the largest in a quarter since the subprime crisis, save for the second quarter of 2020 when the pandemic shut down most home buying.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brunello Cucinelli Purchases L.A. HomeThe Italian designer is the new owner of a 1920s-era Spanish Colonial Revival property in Runyon Canyon.
Read more »
Parents welcome twins born from embryos frozen 30 years agoBorn on October 31, Lydia and Timothy Ridgeway were born from what may be the longest-frozen embryos to ever result in a live birth, according to the National Embryo Donation Center.
Read more »
Parents welcome twins born from embryos frozen 30 years agoBorn on October 31, Lydia and Timothy Ridgeway were born from what may be the longest-frozen embryos to ever result in a live birth, according to the National Embryo Donation Center.
Read more »
Twins Born From Embryos Frozen 30 Years AgoIn what is believed to be a record, twins in Oregon were born this past Halloween from embryos that were frozen in 1992.
Read more »
A Comforting Fish Recipe Ready in Under 30 MinutesChef Mike Solomonov finishes this simple dish of buttery roasted haddock and grapes with a scattering of crunchy chopped almonds. The combination is sensational—and very easy on the cook.
Read more »
30-year-old Akron man drives to hospital after being shot in the head, police sayEarly Saturday morning officers were called to the Cleveland Clinic Akron about a man who walked in with a gunshot wound.
Read more »