The Difference of a Decade: Rising Purchases amid swings in market share
The Start of the Decade Looked
Very Different from the End
California dominated investor activity at the start of the decade. In 2011, Los
Angeles, San Jose, San Diego, San Francisco, Sacramento, Oxnard, Stockton and
Riverside were all in the top 10 metro areas with the highest investor activity. This
reflects the nature of the market in the wake of the Great Recession. California was
hit hard and consequently had many foreclosures and sales of real-estate owned by
financial institutions.
Conversely, not a single California metro area made the top
10 in 2020, after having been supplanted by cities in the
Mountain West, the western Midwest and the South. Investors
have most likely shifted their attention elsewhere because of
increasing home prices in California metro areas. In general,
investment has grown in metro areas like Boise, Phoenix and
Salt Lake City, which tend to have lower prices and growing
populations fueled by California out-migration.
In this way, investors are unlike today's homebuyers. For
instance, desiring affordability and warm weather,
homebuyers flocked to Florida in 2020, with the state
accounting for nearly half of the top 15 metros with the
highest in-migration.
25%
20%
15%
10%
5%
096-
CoreLogic
2020
U.S Investor Homebuying Rates: Top Ten MSAs 2011 vs 2020
2011
25%
2096
15%
10%
5%
0%-
Springfield, MO
Phoenix-Mesa-Scottsdale, AZ
Provo-Orem, UT
Wichita, KS
Salt Lake City, UT
Memphis, TN-MS-AR
Atlanta-Sandy Springs-Roswell, GA
Kansas City, MO-KS
Boise City, ID
Corpus Christi, TX
Corpus Christi, TX
Las Vegas-Henderson-Paradise, NV
Riverside-San Bernardino-Ontario, CA
McAllen-Edinburg-Mission, TX
San Diego-Carlsbad, CA
Oxnard-Thousand Oaks-Ventura, CA
Stockton-Lodi, CA
San Jose-Sunnyvale-Santa Clara, CA
Los Angeles-Long Beach-Anaheim, CA
San Francisco-Oakland-Hayward, CA
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