I know about this personally as I have an institutional investor from South Florida who is asking me to purchase 100 homes in good shape for rental properties for people with money outside of Florida. There is a alot of institutional interest not only here, but also overseas.
Institutional investors continue to drive the Jacksonville housing market, accounting for more than 20 percent of home purchases in October. That activity was a big push behind a 29 percent jump in median sales compared to October 2012, according to new data from RealtyTrac. That price increase — to $131,000 — was the fifth biggest jump in the U.S., according to RealtyTrac.
In RealtyTrac’s reports, the Jacksonville metro area includes Baker, Clay, Duval, Nassau and St. Johns counties. RealtyTrac reports are based on public records. Jacksonville was also No. 2 in the country for foreclosure auction sales, with that category representing close to 9 percent of all sales in October.
Institutional investors first descended upon the Jacksonville single-family market in late 2012, and kicked their buying spree into high gear in early 2013. By May, the firms owned a combined total of more than 500 homes in Duval County, according to Duval County.
No comments:
Post a Comment