US property investors snapped up 26.1% of low-priced homes in the fourth quarter, a record share.
Single-family homes accounted for more than two-thirds of investors' purchases in Q4, at 68.6%.
Zooming in, low-priced homes accounted for 46.5% of investor purchases, with mid-priced homes at 24.6% and high-priced homes at 28.8%.
Inventory is still low across the country as sellers cling to lower mortgage rates they locked in years ago.
It's worth noting though that big institutions make up a small percentage of investors in the market buying homes.
Persons:
—, Redfin, Carrie Caruthers, Sheharyar
Organizations:
Service, Department of Housing, Urban Development
Locations:
California