Bloomberg reports that almost two-thirds (2/3) of real estate investors plan to invest in as many or more homes in the next year: Real Estate Investors Plan to Purchase More Homes in U.S.
Rising rents are driving the increase in residential real estate investment. In fact, in many areas of the country it is actually cheaper to buy than to rent according to Trulia.com. A homeowner would save almost $890 per month by buying in San Francisco. Trulia goes on to say,
“For prospective homeowners who are unable to secure the best mortgage rates, fail to itemize their tax deductions or plan to stay in their next home fewer than seven years, the cost of homeownership relative to renting will be greater.”
Even though property inventory fell by 1.2% from July to August and prices are rising slightly, investors still have a strong desire to buy.
If you are an interested in investing in real estate, please give me a call at (925) 385-8798.