“This marks a clear deceleration from the steady 4% annual gains we’ve seen in previous months — a sign that this market segment is losing some steam,” Littell said. “For the past two years, individual investors have been the driving force behind this market. But now, even they are beginning to pull back.”
Littell said private investors were the slowest to respond to the Federal Reserve’s interest rate increases through last summer, and now that they’ve exhausted their capital, they are buying with less aggression. As a result, some properties are sitting on the market longer.
Source: CoStar News – Individual investors start pulling back, slowing property price gains
