Investors Grabbing More Market Share
It may be less about grabbing more and more about less competition. A recent report pegged investor purchases at 58% of all REO properties. That’s a major number. However, with so few retail buyers, it’s probably mostly about taking the low hanging fruit without any real competition.
It’s Spring and Home Sales are Up
In April both existing home sales and the inventory of available homes increased according to the National Association of Realtors. This is mostly a seasonal thing, but in general there seems to be a renewed interest in home ownership.
Prepayments Up
Prepayments of mortgages were up by 8.75% in April over March. Prepayments are early mortgage payoffs. This indicates that refinancing is again growing in popularity while mortgage interest rates remain low.
Investors Grabbing More Market Share
It may be less about grabbing more and more about less competition. A recent report pegged investor purchases at 58% of all REO properties. That’s a major number. However, with so few retail buyers, it’s probably mostly about taking the low hanging fruit without any real competition.
It’s Spring and Home Sales are Up
In April both existing home sales and the inventory of available homes increased according to the National Association of Realtors. This is mostly a seasonal thing, but in general there seems to be a renewed interest in home ownership.
Prepayments Up
Prepayments of mortgages were up by 8.75% in April over March. Prepayments are early mortgage payoffs. This indicates that refinancing is again growing in popularity while mortgage interest rates remain low.