“Investor home purchases are up by double digits in West Coast cities including Seattle, Portland, OR and San Francisco, and down by double digits in some Florida cities,” the report said.
In Seattle, financier purchases leapt 37% year over year, the biggest increase of any significant United States city, while Orlando posted a 16% decline, the largest drop in the dataset.
Redfin said the divergence partially showed where the numbers still worked. Nationwide, “it doesn’t make financial sense for flippers or property owners to buy property in much of the country” as high prices and rates squeezed both individual purchasers and financiers.
In expensive West Coast markets, however, costs climbed up beyond what numerous local homes could pay for, reinforcing rental need and “inspiring property managers to buy property,” consisting of some betting that AI hiring and return‑to‑office requireds would restore San Francisco need.
“Some investors are keeping their pocketbooks closed, which gets rid of competitors for everyday novice purchasers,” Chen Zhao, Redfin’s head of economics research study, said.