REAL ESTATE INVESTORS PLAN TO PURCHASE MORE HOMES IN U.S.
By: John Gittlesohn
Almost two-thirds of U.S. residential real estate investors plan to buy as many as or more homes in the next 12 months than they have in the past year even as prices rise, according to a survey released today.
About 39 percent of active property investors intend to step up their purchases, while 26 percent expect to buy the same number in the coming year, according to a survey conducted by ORC International, a Princeton, New Jersey-based research firm. About 30 percent of investors plan to reduce their purchases, the study showed.
Rising rents are benefiting the 28.1 million U.S. residential real estate investors -- people who own property as landlords rather than as occupants -- Dorkin said. Demand for rentals has risen as people with damaged credit or lack of money for down payments stay out of the home buying market.