Investors showed no fear of rising home prices in the second quarter, going on a spending spree not seen in the sector in more than 20 years.
As home prices and rents appreciated, housing investors poured $49 billion into acquisitions during the second quarter. Investors were responsible for buying almost 68,000 homes, up more than 10,000 from the previous quarter, according to Redfin data reported by Bloomberg News.
The Redfin report, including multifamily buildings, condos and single-family homes, found purchases from investors represented 16 percent of all home sales during the quarter.
