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Passive Income: Renewed Confidence Inspires Surge in Single-Family Rental Investing

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Sinopsis

Investor interest in single-family rentals is making a post-COVID comeback. A new report by Redfin shows an increase in the purchase of single-family homes by investors after three straight quarters of declines during the pandemic. Redfin says there was a 2.7% increase in the number of homes bought by investors during the first quarter of this year. That’s about 1 in every 7 homes compared to about 1 in every 10 homes during the previous three quarters. Cautious Approach During Pandemic Redfin says that investors held back at the beginning of the pandemic and were slow to jump back in. Even though the housing market recovered quickly, many investors took a more cautious approach because of job losses, unpaid rents, and the eviction moratorium. Redfin’s senior economist, Sheharyar Bokhari says: “Investors are likely starting to feel more comfortable because the economy is in recovery mode.” And, they may also see the declining inventory of homes as an opportunity because a lot of families who’d like to buy a h