Demand for distressed properties from investors is contributing to the recovery, not creating an artificial one, according to Pro Teck Valuation Services’ Home Value Forecast (HVF) for April.
According to the report, one of the catalysts driving the housing market rebound has been large investment funds, which are buying distressed single-family homes to be used as rentals.
“These funds have also been renovating homes, which has helped to improve the overall conditions of the surrounding neighborhoods and provided a positive injection of capital,” said Tom O’Grady, CEO of Pro Teck.
Read more...Investors, Inventory Shortage Catalysts to Housing Rebound: Report
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