Are you frustrated with the competitive housing market? Good news! Real estate investors are tapping the brakes, creating opportunities for prospective homebuyers like you.
According to the Realtor.com® Spring 2023 Investor Report, investors who typically rent out properties are on a decline from the peak in February 2022.
“Once prices got so high, the return on investment became a little dicier for investors,” comments Hannah Jones, an economic data analyst at Realtor.com. “[Investors are] no longer as incentivized to be competing as much as they were. And as rents cooled, the value proposition weakened.”
Take advantage of this opportunity, consider your personal circumstances, and pursue your dream of owning a home in the city of your choice.
Remember, the market and rates are evolving, so it's important to stay informed and work with a local mortgage pro like us to navigate the process successfully.