The statistics are staggering! There are communities in the Phoenix Real Estate market where investors own 30-40% of the homes, making the rental market extremely competitive. This is also making the home buying opportunities limited for owner occupied buyers.
This AZ Central article gives insight into the areas where investors are targeting the majority of their purchase power, but these same areas, depending on the strategy of the larger investors, could also get hit the hardest in five to seven years, when their ?exit strategy? comes to life.
http://www.azcentral.com/business/realestate/articles/20121005phoenix-housing-investors-market.html
And it?s not just the local investors, it?s a mix bag of investors, from large local firms, to billion dollar funds from New York and LA, to international investors infiltrating the valley. What will determine how much of an impact all of these investor purchases will have on the home values in the valley? How they decide to sell them. As long as there isn?t a mass dump, and it?s single property sales to homeowners, there shouldn?t be a major impact. However, if one or more of the larger investors decide to ?fire sale? the properties as the market shifts, there could be a heavy economic impact.
Investors now own over 18% of the homes in the valley, almost double the rate during the boom! Let?s hope that the new boom, doesn?t turn the market into a loud thud!
Source: http://blog.greenstreetrealty.com/investors-are-continuing-to-focus-on-real-estate-in-phoenix/
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