In 2016, 37% of home sales were to buyers who did not reside in those homes, which is a 21-year high, according to ATTOM Data Solutions. "Though prices in several markets are nearing pre-bust levels, the composition of both the supply and demand of today’s real estate market is starkly different than a decade ago," Alex Villacorta, VP at Clear Capital Analytics, says. "As such, it’s imperative for all market participants to understand the nuances of the New Normal Real Estate Market."
@Jamane Y. Great article. I've read a few that bring up similar points. There is a slight trend of millennials being more interested in renting vs. owning homes. Some say this is because they prefer the flexibility to travel are the U.S. and internationally. This may contribute to the increase in absentee owners!