Real Estate Investors Increasingly Buying Affordable Homes in Chicago and California



Despite a slowdown in overall market activity, investors are targeting lower-priced properties in Chicago and California. Find out more.

Investors showed a decrease in home purchases during the last quarter, according to a recent report by Redfin. However, those who did make purchases focused on lower-priced homes, intensifying competition for affordable properties among regular homebuyers. Despite a 10.5% year-over-year decline in investor purchases, they still made up a significant portion of total sales, accounting for 18% of all home purchases in Q4.


Real Estate Investors Increasingly Buying Affordable Homes in Chicago and California

Investors primarily targeted lower-priced single-family homes, with 26% of all lower-priced home sales being attributed to them in the last quarter. This trend could further limit the accessibility of the housing market for typical homebuyers. The preference for affordable homes was evident in states like California and Illinois, where investor activity saw a notable increase over the past year.

In Riverside, California, investor activity surged by 25%, while Chicago saw a nearly 21% rise in investor purchases. The median price of homes purchased by investors in Riverside was $541,000, significantly higher than the median price in Chicago, which was around $235,000. California, known for its affordability challenges, saw seven of its metros, including Sacramento, San Diego, and Los Angeles, among others, experiencing a rise in investor purchases.

Despite high home prices in California, researchers anticipate continued interest from both regular buyers and investors in 2024. The potential for price growth, combined with strong demand and lower mortgage rates, makes California cities an attractive market for real estate investment.

While investor purchases may have decreased overall, their focus on lower-priced homes continues to impact the housing market, posing challenges for typical homebuyers. The evolving trends in investor activity highlight the ongoing competition for affordable properties in various regions.

Real Estate Investors Increasingly Buying Affordable Homes in Chicago and California

Support Ogusyis by making a contribution – no matter how small.


Enter your amount
£
Enter your amount
£
Enter your amount
£
Yourname
Email
Phone


French Fund Extendam Acquires Sofitel Lisbon Liberdade Hotel

Discover how the prestigious French fund Extendam secured the purchase of the iconic Sofitel Lisbon Liberdade hotel in a strategic move.

Discover how the prestigious French fund Extendam secured the purchase of the iconic Sofitel Lisbon Liberdade hotel in a strategic move.

Read more

Australia’s Queensland Emerges as Top Destination for Overseas Real Estate Buyers Amid Record High Prices

Discover why Queensland is attracting international buyers despite soaring property prices, making it the hottest market in Australia.

Discover why Queensland is attracting international buyers despite soaring property prices, making it the hottest market in Australia.

Read more

Switzerland’s Foreign Investments Soar: A 50% Increase

Discover how Switzerland's investment landscape has boomed, with over 1,781 new jobs created and a remarkable 50% rise in projects.

Discover how Switzerland\'s investment landscape has boomed, with over 1,781 new jobs created and a remarkable 50% rise in projects.

Read more

A Comprehensive Guide to Buying Real Estate in UK as a Foreigner

Explore the ins and outs of buying real estate in UK as a foreigner, from market trends to legalities and practical tips for success.

Explore the ins and outs of buying real estate in UK as a foreigner, from market trends to legalities and practical tips for success.

Read more

Where to Invest in Multifamily Real Estate: Promising Opportunities

Explore the current landscape of multifamily real estate investments and discover where to invest in multifamily real estate to achieve growth and profit in this sector.

Explore the current landscape of multifamily real estate investments and discover where to invest in multifamily real estate to achieve growth and profit in this sector.

Read more

How to Use Debt to Make Money in Real Estate?

Discover the smart strategies for leveraging debt to grow your real estate investments and maximize profits. Learn how to use debt to make money in real estate effectively.

Discover the smart strategies for leveraging debt to grow your real estate investments and maximize profits. Learn how to use debt to make money in real estate effectively.

Read more

Luxury Apartments for Rent in Switzerland: Investing Guide

Discover the benefits of investing in luxury apartments for rent in Switzerland. Explore top locations, market trends, legal considerations, tax implications, financing options, and investment tips.

Discover the benefits of investing in luxury apartments for rent in Switzerland. Explore top locations, market trends, legal considerations, tax implications, financing options, and investment tips.

Read more

Best Places to Invest in Property in the UK

Discover the best place to invest in property in UK for a successful return on investment.

Discover the best place to invest in property in UK for a successful return on investment.

Read more

Luxury Vacation Rentals in Switzerland: Investing Guide

Discover the benefits, factors, locations, legal considerations, ROI potential, and more when investing in luxury vacation rentals in Switzerland.

Discover the benefits, factors, locations, legal considerations, ROI potential, and more when investing in luxury vacation rentals in Switzerland.

Read more

Copyright © Ogusyis. All rights reserved. The Content may not be copied, distributed,  republished, uploaded, posted or transmitted in any way without the prior written consent of Ogusyis.