| Major real estate investors are buying fewer homes in some hot markets while expanding in others as they race against rising prices to turn more distressed homes into rentals. Phoenix, which has led the nation with rapid home-price gains, is among the first markets to see investors' interest cool.
The percentage of Phoenix homes bought by investors fell to 28% in November after cresting at almost 36% in August and is now on a "clear downward" trend says Mike Orr, real estate expert at the W.P. Carey School of Business at Arizona State University..............................................Full Article: Source
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