Investment Property Sales Fall in 2013

Investment 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?

(We work hard on this and sure would appreciate a “Like”)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.