 |
| Mike Pappas |
IRVINE, CA, Feb. 20, 2015 — RealtyTrac®
(www.realtytrac.com), the nation’s leading source for comprehensive housing
data, today released its Q4 and Year-End 2014 U.S. Institutional Investor &
Cash Sales Report, which shows that the share of home sales to institutional
investors and all-cash buyers dropped to four-year lows in 2014 despite a
quarterly increase in the fourth quarter.
A total of 105,278 single family homes were sold to
institutional investors — entities that purchase at least 10 properties in a
calendar year — in 2014, 4.2 percent of all sales and down 31 percent from the
153,450 institutional investor purchases in 2013 to a four-year low. Meanwhile
overall sales of single family homes decreased 2 percent between 2013 and 2014.
In the past four years, institutional investors have
purchased a total of 528,369 single family homes nationwide, led by Florida
(78,155), California (52,802), Georgia (46,914), Arizona (35,979), and North
Carolina (34,769).
 |
| Wesley M. Hardin |
Institutional investor purchases represented 3.7 percent of
all single family home sales in the fourth quarter, up from 3.5 percent of
sales in the third quarter but still below the 5.4 percent of all sales in the
fourth quarter of 2013.
“While the overall percentage of purchases by institutional
investors is nothing to write home about nationwide, the true impact of these
investors can be seen more clearly at the hyperlocal level,” said Daren
Blomquist, vice president at RealtyTrac.
“There were 35 zip codes
nationwide where at least 50 single family homes were purchased by
institutional investors in the fourth quarter, with institutional investor
purchases representing from 17 percent to 74 percent of all single family home
sales in those zip codes.”
“With our limited land and growing population the
institutional investors believe our region will outperform the U.S. market,”
said Mike Pappas, CEO and president of the Keyes Company, covering the
South Florida market, where institutional investors accounted for 21 percent of
all single family purchases in zip code 33023 in Hollywood, Florida, in the
fourth quarter.
 |
| Daren Blomquist |
“We are seeing a fair amount of deals in the area as this institutional
investor money is really becoming a player,” said Wesley M. Hardin,
owner/broker at RE/MAX Alliance, covering the Denver market, which saw an
uptick in institutional investors in the fourth quarter.
“In fact, I closed a
deal this past Wednesday from a REIT back east. They sent the offer without
seeing the home and closed in about 10 days. The title company told me this was
their 256th purchase in the metro area in the last 12 months.”
For a complete copy
of the company’s news release, please contact:
Jennifer von
Pohlmann
Sr. Data PR Manager
Office:
949.502.8300 ext 139
No comments:
Post a Comment