How many Atlanta homes are owned by corporations instead of people?

WSBTV.com News Staff
·2 min read
21

Inflation has gone down slightly but the price of housing remains the single largest factor affecting costs for Americans, according to the most recent Consumer Price Index by the U.S. Bureau of Labor Statistics.

With housing costs, mortgages, and rent at top of mind, affordability of shelter can at times be out of reach. In the scramble to buy, some Americans are finding houses snatched up fast, but it’s not always by other people.

For Atlanta, Redfin, a national real estate brokerage, said the portion of homes bought by actual people looking for a new place to live is about 80%, with the remaining 20% owned by investors or corporations.

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According to Redfin, Atlanta had a 66% drop of investor home purchases in the first quarter of 2023, tying with Charlotte, N.C. for second largest decline of the metro areas analyzed.

Nassau County in New York was the highest, but not by much, with a 67.9% decline.

By the numbers, Redfin reported Atlanta homes bought by investors in the first three months of the year were worth a collective $944 million, give or take $200,000.

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The share of investor-bought homes did go down by 14%, according to Redfin, compared to 2022, but they still account for roughly a fifth of the homes owned in the area.

The real estate company reported it was one of only 17 markets analyzed to have investors lose part of their market share.

While investors’ share of the market has started to fall, the Atlanta area remains the most overpriced market in the country.

As previously reported, research conducted by Florida Atlantic University, Atlanta residents are paying nearly 50% more for their homes than the expected price.

Recent real estate data from GeorgiaMLS showed Atlanta home sales have surged compared to the year before, and the Georgia counties with the most home sales were mainly in the metro area.

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