Why investors have pulled back from the housing market
Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
Investor home purchases in metro Orlando plunged 52% year-over-year in the fourth quarter, according to data released Feb. 15 by Redfin Corp.
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Why this story matters: Investor buyers have a big influence in Orlando’s housing market, where they have represented as much as 27% of homebuyers during the last two years. Many of those investors were deep-pocketed corporations that helped drive up Central Florida home prices.
Many investors backed off from the local housing market last quarter as home price appreciation, on a rapid upward trajectory in Central Florida, faltered and reduced potential returns. Plus, interest rate hikes last year made it more expensive for investors to borrow money.
Click here to read the full story on the Orlando Business Journal’s website.
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