Bidding wars erupt as 2024 kicks off, with some listings seeing over 30 offers
Bidding wars erupt as 2024 kicks off, with some listings seeing over 30 offers
Mortgage rates declined throughout December, luring more buyers back to the market. They're competing over stubbornly low inventory.
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I wish their data showed how many of the bidders/mortgage applicants were indivduals vs corporate buyers.
This article is mostly about 2022 data but has a lot of the numbers you're looking for:
https://scrippsnews.com/stories/corporate-investors-are-purchasing-more-single-family-homes/
This article quotes the “1/3 of 1%” number for large scale property investors. Seems like the vast majority of property buys are still people that intend to live there, though the “49% of 26%” (btw why are all the statistics in these weird formats???) are 1-9 property owners”mom and pop” investors. That number is actually way bigger than i thought. I could see this being a problem is some locations more than others though. That might make the problem feel bigger in some areas.
Thanks for the info.
I was aware of that. It just annoys me that articles ignore it altogether to make us think scummy corps don't have anything to do with bidding wars, mortgages or housing costs and availability.
And US citizens versus foreign nationals.
US citizens are fighting US companies a lot more than foreign nationals. We have enough homegrown pieces of shit without having to look at other countries.