Investor Activity Falls Sharply in May

In May, investor activity fell to its lowest level in more than three years, as investors accounted for only 20.2% of home purchases, according to a recent Campbell/Inside Mortgage Finance HousingPulse Tracking survey. With home prices on the rise in today's market, profit margins for investors have dwindled, causing more difficulty in the justification of home purchases.
Where investor interest has lessened, both current homeowner and first-time homebuyer activity has risen over the past two months. From the same survey in May, current homeowners accounted for 43.8 percent of home purchases, while first-time homebuyers represented 36 precent of the total.

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http://www.dsnews.com/articles/investor-activity-falls-sharply-in-may-2013-06-24

Source: DSNEWS.com