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Investors bought nearly one-fifth of the homes sold in the 2024 first quarter, Fortune reported.
Although thats down from the COVID-19 pandemic peak, it was the highest share in almost two years.
Investor purchases of high-priced homes climbed 10.5% year over year in the first quarter, Redfin noted.
That was the first increase in almost two years.
In terms of capital gains, investors in Philadelphia had the highest payoff in the first quarter of 2024.
On average, investors in Philly sold homes for 136.2% more than they paid.
But most of the investor action is happening farther west.
California dominated the list of cities where investors bought the most homes vs. a year ago.
But that doesnt necessarily mean you should buy up homes there.
