Real Estate Investor Selling Hit Record High in 2024

Real estate investors accounted for 10.8% of home sellers in 2024, a record high level, according to a new data report from Realtor.com.

Last year, 13.0% of homes were bought by investors, a slight increase from 2023 but below the 2022 peak of 13.3%. On the sell side, the 10.8% level of sales generated by investors was up from 10.1% in 2023.

Small investors – defined by Realtor.com as entities that have purchased fewer than 10 homes – made up 59.2% of investor purchases, the highest share in the data’s history. In contrast, large investor activity – which includes entities who have purchased 50 or more homes – fell to 21.7% of purchases, the lowest since 2007. Small investors purchased 361,900 homes in 2024, a 3.7% year-over-year increase, while large investor purchases decreased by 8.7% to 132,500 homes, the lowest level since 2018.

All-cash investor sales dropped to their lowest level since 2008, although they remained nearly double the cash share of total home sales. Small investors saw the cash purchase share fall from its peak of 65.6% in 2023 to 62.0% in 2024, the lowest small investor cash purchase share since 2008. The large investor cash purchase share fell from 73.2% in 2023 to 68.9% in 2024, the lowest level since 2015.

Regionally, Missouri (21.2%), Oklahoma (18.7%), and Kansas (18.4%) had the highest investor buyer share in 2024 while Oklahoma (16.7%), Missouri (16.7%), and Georgia (15.9%) saw the highest share of investor sellers.

“Investor trends signal a transition,” said Danielle Hale, chief economist at Realtor.com. “Nationwide, investors picked up more homes on net in 2024, as smaller investors were a growing majority of investor buyers. But with investor selling at a new high, the market saw the smallest net investor buying activity in five years, lessening one of the notable headwinds for entry-level buyers who often compete with investors.”