The share of investors housing market dips but remains raised

A year earlier, investors represented 25% of the market.

“Investors considerably expanded their presence on the market in 2025, building at a historically high level,” said Thom Malone, chief economist at Cotality. “This shows their resilience in a high -quality, high -quality environment. Since these negative circumstances are expected, investors are well positioned to meet the rental demand.

“Their tendency to buy with all cash means that high interest rates are less a deterrent. Plus, the current high prices can be compensated by strong rental efficiency.”

The data from Cotality show that investors bought around 85,000 houses every month in the first half of 2025, almost the same as the 84,000 monthly average a year earlier.

That level remains far below the peak of 120,000 monthly purchases that will be seen in 2022, but the share of investors has increased as the owner-based transactions are delayed.

Medium-Sized Investors defined as those of 10 and 99 properties of the growth driven. Their share increased from 6% of purchases in June 2024 to 10% in June 2025.

Small investors – with fewer than 10 characteristics – continue to make up the largest group with 14%. Large investors (101-1,000 properties) accounted for 3% of sales, while Mega investors with more than 1,000 property represented 2%.

Dallas, Houston, Atlanta, Phoenix and Los Angeles had the highest number of investors purchases.

Dallas led in total investment transactions, but was only 10th in the share of investors.

Los Angeles, on the other hand, had a relatively high share despite a lower total transaction volume.

When measured by shares instead of rough totals, only Los Angeles and Atlanta were in the top five for both categories.

In most metropolitan areas, small investors formed around 15% of the market, while variations in the total share were driven through medium -sized, large and mega investors.

The report noted that the investor share of Atlanta would take the top 20 without the participation of mega-investors.

Investor activity has followed a seasonal pattern, usually increases in winter and falls on the market in the summer as more owner-residents come on the market.

Unless broader economic conditions change, Cotality expects investors to continue to make up 25% to 30% of the purchases in the near future.