Investor
purchases
averaged
80,000
to
100,000
homes
per
month
in
2025,
roughly
matching
2024
levels.
While
overall
home
sales
have
declined
since
2021,
investors
have
proven
more
resilient
than
traditional
buyers,
aided
in
part
by

all-cash
offers
that
bypass
elevated
interest
rates
and
allow
for
deeper
discounts.

Small
investors
(those
that
own
fewer
than
10
properties)
and
medium
investors
(10
to
99
properties)
together
account
for
nearly
one-quarter
of
all
U.S.
home
purchases.
Large
investors
(100
to
999
properties)
and

mega-scale
investors
(1,000
or
more)
represent
about
5%
of
the
market
but
play
an
outsized
role
in
providing
capital
and
setting
professional
management
standards,
Cotality
said
in
the

report.

Geographically,

Dallas,
Houston,
Atlanta,
Phoenix
and
New
York
were
the
top
cities
for
investor
activity.
Population
growth
is
driving
acquisitions
in
Dallas
and
Houston,
while
New
York
and

Chicago
remain
attractive
due
to
strong
home-price
appreciation.

A
key
trend
highlighted
in
the
report
is
that
volume
does
not
always
align
with
market
share.
While
Texas
cities
have
high
numbers
of
investor
purchases,
Dallas
and
Houston
rank
14th
and
16th,
respectively,
for
overall
market
share.

Conversely,
high-cost
California
metros
such
as

San
Jose
and
Los
Angeles
have
the
largest
investor
market
shares,
suggesting
that
in
unaffordable
markets,
investors
fill
gaps
left
by
inactive
consumer
buyers.

Cotality
projects
investor
market
share
will
remain
steady
through
early
2026,
with
a
seasonal
dip
toward
25%
as
owner-occupied
activity
typically
rises
in
the
summer.

But
long-term
trends
will
depend
on

mortgage
rates.
If
rates
stay
higher,
owner-occupant
demand
may
remain
subdued,
maintaining
investor
influence.
If
rates
fall,
traditional
buyers
could
reclaim
market
share,
reducing
investor
dominance.