DALLAS – Six of the top 20 most popular U.S. cities for home investors are in Texas, according to a recent report from CoreLogic.
Investors accounted for 41 percent of home purchases in McAllen, ranking the metro third nationally. El Paso was fourth with 38 percent. Brownsville ranked sixth, Houston 16th, Beaumont 18th, and Dallas 19th.
Two California cities—San Jose and Los Angeles—took the top spots.
“The high U.S. home investor share seen over the past two years nudged up in the third quarter, despite 2023′s mortgage rate increases,” CoreLogic economist Thomas Malone said in the study. “In July, August, and September, the share of single-family purchases made by investors was 26.8 percent, 27.2 percent, and 28 percent, respectively.
“Given this trend, it would not be surprising to see these numbers climb above 30 percent in the fourth quarter of 2023.”