INVESTORS READY TO TAKE BIGGER BITE OUT OF MARKET
By: Daily Real Estate News Editor
Rising home prices haven’t deterred investors from the housing market, according to a new survey by real estate-centered companies BiggerPockets.com and Memphis Invest. In fact, nearly 40 percent of real estate investors say they plan to purchase more properties over the next 12 months than they did last year. Twenty-six percent say they plan to buy as many as they did last year, according to the survey.
Investors have made up a big part of the housing market in recent months. Investors bought 1.23 million homes last year—a nearly 65 percent increase over the 749,000 they purchased in 2010, according to the National Association of REALTORS®.
"Though housing markets are changing across the nation, investors are still seeing great opportunities,” says Joshua Dorkin, CEO of BiggerPockets.com, a real estate investing social network. “Hundreds of thousands of foreclosures and short sales are coming to market and rents are continuing to improve in most markets, creating a positive environment for the nation's 28.1 million residential real estate investors. They will certainly continue to be major players in the nation's housing economy for the foreseeable future.