US: Investors Bought a Million Homes in 2010, NAR Says

According to the National Association of Realtors (NAR), “nearly 1 million homes were bought as investment properties in 2010″[1]. While real estate investors and real estate agents have not always been the best of friends, this development has encouraged many realtors to extend their services to investors more willingly in hopes of also extending their business capacity in troubled times for the real estate market.

“It [buying and flipping] is absolutely viable,” says one agent and investor in Austin, Texas, “but you have to buy intelligently and go after the right opportunities.”

Interestingly, those investors doing the buying are increasingly doing so from outside the United States. In fact, NAR also reported that $41 billion worth of property was purchased by foreign investors in 2010 and that 28 percent of realtors have at least one international client[2].

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