According to The Charlotte Business Journal:
Wall Street is buying up homes across the country.
The Business Journals analyzed data from Seattle-based Redfin Corp. (NASDAQ: RDFN), which tracked how many homes investors bought in 40 major metropolitan areas across the U.S. in the third quarter. Investors had a record quarter, buying 90,215 homes worth a combined $63.6 billion.
Investors made up 18.2% of all housing sales in Q3, also a record, Redfin found.
The Charlotte metro saw a surge in investor home-buying activity last quarter, making up 31.5% of home sales. That's up from a 13.3% share a year ago. Investors purchased 4,542 homes in the Charlotte area — a year-over-year increase of 145.4% — that were worth a combined $1.46 billion.
Charlotte was one of the U.S. metros that posted the biggest number of investor home sales in the third quarter.