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St. Louis Real Estate Search

 

Investment Property Sales Fall in 2013

Real Estate InvestorInvestment property sales in 2013 fell to 1,104,000 properties, down 8.5 percent from 2012 when there were 1,2o7,000 investment properties sold, according to a report just released by the National Association of REALTORS.  The median sale price of investment homes purchased during 2013 was $130,000, a 13% increase from 2012 when the median price was $115,000.

Who is the typical real estate investor?

According to the NAR report, the typical home investor in 2013 was a median age of 42 years, had a median household income of $111,400 and more than half (59%) were in a two income household.

What type of property do investors buy?

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Not surprising, almost two-thirds of the investment homes purchased (63%) were in suburban or urban areas, 20% were in small towns, 10% rural and, somewhat surprising, only 7% were in a resort area. Like the vacation home market, the South is the popular region for investment home purchases too with 38% of the investment homes being bought in that region during 2013 followed by 25% in the west.

Almost two-thirds (62%) of the property purchased by investors were detached single-family homes followed by 16% purchasing condos/apartments in a small building (2-4 units) and 11% purchasing condos or apartments in buildings with 5 or more units.  Over half (54%) of the property purchased was not a distressed sale , 29% were foreclosures and 18% short sales.

How do investors find the property they buy?

For the first step taken by investors, 35% said they went online looking for houses for sale (20%) or looking for information about the home-buying process (15%).   Twenty-two percent of the investors said they found the property online that they ultimately purchased and 19% found the property they purchased through a real estate agent.

For Advice on How to Buy St Louis Foreclosures From A 2000+ Home Buyer Investor click here.

Looking to buy a St Louis short sale?  Here is a complete list of St Louis short sale properties for sale.

Want to buy a St Louis foreclosure?  Here is a complete list of St Louis foreclosures currently for sale.

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