Irvine Real Estate News
Irvine
Share of Investor-Owned U.S. Homes Remains High in 2023
The sizable U.S. home investor share of ownership seen over the past two years held steady going into the summer of 2023. In March 2023, investors accounted for 27% of all single-family home purchases; by June, that number was almost unchanged at 26%.
Hurricane Hillary Put 1.55 Million U.S. Homes at Elevated Flood Risk This Week
As Tropical Storm Hilary now substantially weakens this week, real estate data provider CoreLogic estimates that approximately 1,553,803 residential homes in the western U.S. were at an elevated risk of inland riverine flooding over the last few days. This includes both single- and multifamily residential properties.
U.S. Opportunity Zones Rebound in Q2
According to ATTOM's newly released second-quarter 2023 Opportunity Zones report, median single-family home and condo prices increased from the first quarter of 2023 to the second quarter of 2023 in 61 percent of Opportunity Zones around the U.S., and rose at least 5 percent in about half.
U.S. Foreclosures Uptick 5 Percent Annually in July
Based on ATTOM's newly released July 2023 U.S. Foreclosure Market Report, there were a total of 31,877 U.S. properties with foreclosure filings -- default notices, scheduled auctions or bank repossessions -- down 9 percent from a month ago but up 5 percent from a year ago.
