Share of metro Atlanta area homes bought by investors drops for 8th quarter straight

ATLANTA — After almost two years of decreases, investor purchases of homes rose across the United States in the past three months, according to real estate company Redfin.

However, while the U.S. saw an increase for the first time in about 24 months, the metro Atlanta area bucked that trend, with another drop.

The latest data from Redfin shows that the metro Atlanta area’s portion of homes bought by investors rather than individuals or families was down nearly 4%.

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Currently, 21% of metro area homes are owned by investors, or about 14,500 homes. In the past three months, more than 3,000 homes were bought by investors.

Still, compared to the overall U.S., Atlanta may have lost a share of its investor-bought growth, but it still has a higher investor-purchased share than the U.S., which is at 19%.

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Investors bought 43,969 homes in the 2024 first fiscal quarter, versus Atlanta’s 3,000 or so.

Overall, Redfin’s data showed that investors are buying more single-family homes while their purchases of townhouses or condos and multifamily properties had gone down as much as 8.6%, depending on the type of property.

At the same time, the real estate company said investors and individual buyers are “duking it out” over the same homes, but investors aren’t winning every time.

In the metro Atlanta area, Redfin reported homes bought by investors were worth a collective $1 billion with a median purchase price of $264,000 in the first three months of the year.

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