Survey: Current Homeowners Increase Purchases, Investors Exit Market. Current homeowners are playing a bigger role as housing market participants amid a sharp slowdown in investor activity, according to data from the Campbell/Inside Mortgage Finance HousingPulse Tracking survey. Among three buyer types-current homeowner, first-time homebuyer, and investor-the survey showed current homeowners were the only group to see activity rise in June. Last month, current homeowners represented 44.6 percent of the purchase market, up from 43.8 percent in May based on a three-month moving average. At the same time, the share for first-time homebuyers fell to 35.7 percent from 36 percent month-over-month. Even more notable was the decrease in investor purchases. As rising home prices discourage investors, HousePulse found home purchases from investors slipped to 19.7 percent, down significantly from 23.1 percent from February. The percentage also represents the lowest level since September 2012.
Posted on: Tue, 23 Jul 2013 16:03:28 +0000
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