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Browse the siteApril 17 2016
LOS ANGELES, April 14, 2016 -- More real estate investors are turning to niche properties and away from investing in single-family homes and multifamily properties than they have in recent years, according to a CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) survey of its members about their interactions with real estate investors.
C.A.R.'s 2016 California Investor Survey found 10 percent of investors purchased commercial, land, mobile homes, or other types of properties in the past year, up from 7 percent in 2015 and 6.7 percent in 2014.
Given a lack of inventory of distressed homes on the market, the share of single-family homes being purchased by investors has been declining gradually since 2013. Seventy percent of investors purchased single-family homes in 2016, down from 78 percent in 2013.
The share of investors who purchased multifamily properties also declined slightly, dipping from 21 percent in 2015 to 19 percent in 2016.
Among the reasons investors cited for buying include good location (38 percent), followed by rate of return (30 percent), good price (17 percent), and future development potential (7 percent).
Additional findings from C.A.R.'s "2016 Investor Survey" include:
C.A.R.'s "2016 California Investor Survey" was conducted in February and March 2016 in an effort to learn more about the role of investors in the California housing market. The online survey sampled random REALTORS® throughout California who had worked with investors within the 12 months prior to March 2016.
For complete survey results, visit http://www.car.org/marketdata/surveys/investorsurvey/
Leading the way...® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 185,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.