Florida has 4 of the top 10 cities for real estate investors, but they’re pulling back. U.S. investor purchases dropped 11.5% in 1Q 2022 compared to the previous quarter.

This article was reported by Florida Realtors on their website that investor purchases still remain above pre-pandemic levels, and investors buy a larger share of American’s homes than ever before – a record of 20% of homes sold in the first quarter, up from 19.2% one quarter earlier and 15.3% one year earlier. While total home sales declined, investors’ share remained strong.

In Florida, four cities made Redfin’s top-10 list for investors, but those also saw a quarter-to-quarter decline in 2022’s first quarter.

Share of homes purchased by investors in 1Q 2022 in Florida cities by their rank in the top 10:

No. 2. 32.3% Jacksonville- down 21.7%

No. 5. 28.2% Miami – down 3.6%

No. 7. 25.7% Orlando – down 12.9%

No. 8. 24.7% Tampa – down 16.5%

The article further stated that even with the current decline investor purchases remain strong, in part, because they can rent out the homes and cash in on soaring rents. Demand for rentals remains high because there aren’t enough homes for sale.

View the entire article here https://1l.ink/RHS6HX2

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