- 91% of real estate investors anticipate growth in 2024, according to a survey by New Western.
- 80% of investors plan to flip 1–5 homes next year.
- 68K new investors joined the market in 2023, driving positive sentiment.
- Local investors are crucial in addressing affordability issues, per New Western’s president.
As reported in Globest, a recent survey by New Western reveals a high level of optimism among real estate investors, especially in the single-family market.
In fact, an impressive 91% of investors expect more growth in 2024, despite current market challenges.
Growth Drivers
The survey, which included responses from 1.3K independent real estate investors, revealed that 80% of respondents plan to flip 1–5 homes in 2024. This proactive approach indicates investors are keen to capitalize on current market opportunities despite less-than-stellar conditions.
New Western’s report noted that 68K new real estate investors entered the market in 2023, a significant driver of continued growth. These new entrants are also actively seeking primarily single-family properties to rehabilitate, contributing to an overall positive outlook for the sector.
Local vs. Institutional
Kurt Carlton, New Western’s president and co-founder, emphasized the importance of local investors in tempering the housing and affordability crisis.
The current housing shortfall, coupled with many vacant and aging homes, presents plenty of opportunities for investors to positively impact their communities.
Indeed, contrary to the broader market trend of large institutional investors dominating deal activity, New Western’s survey found that its investor base primarily consisted of local, independent investors.
What’s Next
Looking ahead, New Western’s investors are likely to continue focusing on the single-family market. Additionally, there seems to be growing interest in the long-term rental market.
