Business Investor Activity in the Single-Family-Housing Market, Accessible Data
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Figure 1: Business Investor Home Purchase Shares
This figure plots the share of homes purchased by business investors by size and by year over the period 2004 to 2012. Business investors are defined as business entities identified as purchasing homes for primarily for the purpose of earning a financial return. Large investors have purchased 200 or more homes since 2000. Medium investors have purchased between 25 and 199 homes. Small investors have purchased between 3 and 24 homes. Source data are transactions data from CoreLogic which are filtered by Amherst Holdings.
Percent of all homes sold
| Investor Share (%) | Small Investor Share (%) | Medium Investor Share (%) | Large Investor Share (%) | |
|---|---|---|---|---|
| 2004 | 0.84 | 0.4 | 0.3 | 0.14 |
| 2005 | 0.88 | 0.43 | 0.31 | 0.14 |
| 2006 | 0.97 | 0.46 | 0.33 | 0.19 |
| 2007 | 1.33 | 0.62 | 0.44 | 0.28 |
| 2008 | 2.53 | 0.98 | 0.91 | 0.65 |
| 2009 | 3.57 | 1.33 | 1.33 | 0.91 |
| 2010 | 5.15 | 2.19 | 2.02 | 0.93 |
| 2011 | 5.55 | 2.44 | 2.13 | 0.98 |
| 2012 | 6.36 | 2.62 | 2.2 | 1.54 |
| 2013 | 6.42 | 2.2 | 1.82 | 2.39 |
Note: Large investors are businesses that have purchased 200 or more homes since 2000. Medium investors purchased between 25 and 199 homes. Small investors purchased between 3 and 24 homes.
Source: Amherst Holdings
Figure 2: Business Investor Home Purchase Share, by Price-to-Rent Ratio
This figure is a scatter plot of total business investor home purchase shares across 20 MSAs in 2012 relative to the price-to-rent ratio in these MSAs. A regression line is plotted which shows a negative relationship between investor home purchase share and price-to-rent ratio. The business investor purchase share data come from Amherst Holdings. The price-to-rent ratio data from Zillow.
| MSA | Price-to-rent ratio (2011) | Business Investor Home Purchase Share (2012) (%) |
|---|---|---|
| Atlanta | 8.84 | 16.43 |
| Phoenix | 9.26 | 13.99 |
| Las Vegas | 8.19 | 10.97 |
| Tampa | 8 | 8.91 |
| Charlotte | 10.69 | 8.47 |
| Miami | 7.56 | 6.92 |
| Dallas | 8.12 | 6.21 |
| Los Angeles | 14.94 | 5.53 |
| Chicago | 10.47 | 4.05 |
| Detroit | 6.12 | 3.88 |
| Denver | 12.01 | 3.82 |
| San Diego | 13.87 | 3.74 |
| Minneapolis | 10.61 | 3.37 |
| Washington | 13.32 | 3.17 |
| Cleveland | 8.74 | 3.1 |
| San Francisco | 16.63 | 2.51 |
| Seattle | 14.04 | 2.42 |
| Portland | 13.42 | 2.36 |
| Boston | 14.12 | 1.24 |
| New York | 16.67 | 1.14 |
Source: Zillow and Amherst Holdings