Homeownership has slipped out of reach for millions of Americans thanks to the astronomical rise in mortgage rates and an ongoing inventory shortage.
Now, there is another obstacle to buying a home: Investors and hedge funds are snatching up properties at the fastest pace in nearly two years, according to new findings published by Redfin.
Real-estate investors bought about 44,000 homes in the first quarter of 2024, up half a percent from the previous year – the first increase since 2022.