Investor home purchases drop 30% as rising rates and high prices cool the housing market. Companies bought around 66,000 homes in the 40 markets tracked by real-estate brokerage Redfin during the third quarter, compared with 94,000 homes during the same quarter a year ago. Now, investors are reducing their buying activity* in line with the decline in overall home sales, which have slumped with mortgage rates rising fast.
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