According to a recent article by Redfin, real estate investors have purchased 45% fewer properties in 2023 than through the second quarter of 2022. However, while investor activity is down, Homefield Homebuyers continues buying homes in the Minneapolis market.
Investors Aren’t Buying As Many Properties Post-Pandemic
Outpacing a drop of 31% in home sales for homeowners this year compared to the second quarter of 2022, the decline in investor purchases is the biggest since 2008. A cooling real estate market is discouraging investors from buying more properties compared to the increase in buying during the pandemic.
In addition, rising mortgage rates, higher housing prices, and fewer funds available from lending agencies (including hedge funds) have made it more challenging for investors to add new properties to their portfolios.
As a result, the current drop in purchasing momentum has taken the volume of homes purchased by property investors this year below the pre-pandemic level. This has led to challenges for home sellers when searching for buyers, forcing many sellers to settle for below-market sale prices to complete a sale.
Homefield Homebuyers Is Still Buying Homes In Minneapolis
As reliable cash homebuyers in the Minneapolis area, Homefield Homebuyers continues to buy properties from homeowners and investors. Since the company provides fair cash offers for homes and doesn’t rely on mortgages or outside funding to complete a sale, rising mortgage rates have not impacted their ability to buy homes.
Additionally, the company purchases homes in as-is condition, helping homeowners reduce costs and avoid repairs to list a home, expediting closing times despite the challenging market conditions.
Who Are Homefield Homebuyers?
The team at Homefield Homebuyers has over 50 years of cumulative experience in the real estate industry. Their connections as friends and family ultimately brought them together to create Homefield Homebuyers and bring that same family-oriented attitude to helping owners solve home-related issues.
The company prides itself on treating each customer with respect and integrity — like an extended member of the “family.” By delivering the “Homefield Advantage,” the team makes it easy for local homeowners to receive a fast and fair cash offer on homes, regardless of market conditions. In addition, because the company understands Midwestern values and the local Minnesota market, homeowners have a better experience than other iBuyers lacking a local connection to the area.
To learn more about Homefield Homebuyers in the Twin Cities area, click this link.
Media Contact
Company Name: Homefield Homebuyerrs
Contact Person: Willie Argo
Email: Send Email
Country: United States
Website: https://www.homefieldhomebuyers.com/