Biggest Buyers: August 2024

In this series we look at the biggest in each market for the month

Top Buyers of Houses - August 2024

For August 2024, we highlight the largest buyers of houses across multiple U.S. markets, focusing on the top buyers by transaction volume in each market. As expected a combination of institutional investors, iBuyers, and larger individual investors played a significant role in driving activity across many regions, including some well-known markets like Phoenix, Dallas-Fort Worth, and Seattle.

Top Buyers by Transaction Volume

Institutional investors and iBuyers continued to dominate in large, investor friendly markets. TRICON SFR 2024 3 BORROWER LLC, a purchasing entity for Tricon Homes was especially active this month in Phoenix, leading the list with 257 purchases, while EPIC ESTATES COMMERCE CITY LLC in Denver-Aurora was a distant second with 22 purchases on the month. The notable presence of Opendoor Property Trust I as a significant player in several markets, such as Denver and San Antonio, highlights their continued interest in real estate acquisitions.

Regional Insights

• Phoenix-Mesa, AZ: TRICON SFR 2024 3 BORROWER LLC took a commanding lead with 257 purchases, nearly ten times the number of homes bought by Opendoor Property Trust I. This reflects the ongoing interest in the Phoenix area from large institutional investors despite compressed yields.
• Denver-Aurora, CO: Both EPIC ESTATES COMMERCE CITY LLC and Opendoor Property Trust I were active buyers, with the former purchasing 22 homes and the latter acquiring 11 properties.
• Chicago-Naperville, IL-IN-WI: Rally Homes LLC led the market with 51 acquisitions, followed closely by DPL 36 LLC, which purchased 45 homes, showing strong investor activity in this region.
• Seattle-Tacoma, WA: The Seattle-Tacoma market saw significant activity from The Landing at Kingston Cove LLC, purchasing 35 homes, while Overlook Forest LLC followed with 8 purchases.
• St. Louis-St. Charles-Farmington, MO-IL: LEPM LLC led the market with 22 homes bought, followed closely by P&K Diekemper Farms LLC, showing a strong investor presence in the region.

Key Takeaways

• Institutional buyers such as TRICON SFR 2024 3 BORROWER LLC, Opendoor Property Trust I, and Rally Homes LLC continue to play a role in several U.S. markets even with a large institutional slowdown in buying activity.
• Regional differences highlight varying investment strategies, with some markets like Phoenix and Chicago seeing large-scale acquisitions, while other regions, such as Seattle, showed more balanced competition between top buyers.
• The diversity of buyers from LLCs, real estate firms, and individual investors suggests that the housing market continues to attract a wide range of stakeholders with varying investment goals.

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