Why investors have pulled back from the housing market – WFTV

Why investors have pulled back from the housing market – WFTV

ORLANDO, Florida— Editor’s Note: This story is available through a content partnership between WFTV and the Orlando Business Journal.

Home purchases by investors in the Orlando metro area fell 52% year-over-year in the fourth quarter, according to data released Feb. 15 by Redfin Corp.

Read: Sheriff: ‘Cowardly scumbags’ distributed anti-Semitic fliers throughout Volusia County

Why this story matters: Buyer investors have a big influence in Orlando’s housing market, where they’ve accounted for up to 27% of homebuyers over the past two years. Many of those investors were deep-pocketed companies that helped drive up Central Florida home prices.

Many investors pulled out of the local real estate market last quarter as home price appreciation, on a rapid upward trajectory in Central Florida, faltered and reduced potential returns. Additionally, 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 website.

Click here to download free WFTV news and weather apps, Click here to download the WFTV Now app for your smart TV and Click here to broadcast live Channel 9 Eyewitness News.

Leave a Comment

Your email address will not be published. Required fields are marked *