Real estate investors are having a huge impact on the nation’s housing recovery. Over the past year, home buyers acquiring rental properties have made up more than one third of home sales. They also are impacting a number of other industries.
The remodeling industry, for example, is projected to have a 21 percent revenue growth rate this year, reflecting the fact that many investors are buying rental properties in need of repair. That’s a higher rate of remodeling than in past housing recoveries. Whether they are investing in distressed properties or not, investors are pouring money into their purchases.
Landscaping and painting service industries are another beneficiary of real estate investors, with a revenue growth rate of nearly 7 percent, according to research firm IBISWorld. Revenue at floor covering stores is expected to increase nearly 6 percent.
Want to read more about how real estate investors are affecting the real estate recovery this time around? Read this new report.