With headwinds like low inventory, elevated mortgage rates and still-increasing home prices, it’s been a difficult time for many Americans to become homeowners. Adding to that struggle has been another inhibitor—institutional buyers. These types of buyers, such as hedge funds and other financial firms, are now players in the single-family home market, often buying houses to convert them into rental units. But while agents and consumers have worried that these buyers have additionally strained housing supply—new data suggests their activity in the market, while still higher than pre-pandemic years, declined last year.
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