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Investment Property Demand Hits 12-Month High
According to a new report from Redfin, homebuyer desire for next properties and expenditure houses was up 87{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} from pre-pandemic ranges in January—the best stage in a 12 months, and just shy of the file 90{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} get in September 2020. Demand from customers for next-residence mortgages is outpacing desire for principal residences, which was up 42{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} from pre-pandemic ranges. The increasing interest in getaway households began in mid-2020, as extra affluent Us residents took gain of distant do the job and small mortgage rates to escape to and spend in holiday destinations. Though demand remained properly previously mentioned pre-pandemic degrees, it declined last spring in advance of bouncing back again in the…