The Difference of a Decade: Rising Purchases amid swings in market share
Investor activity during the decade was lowest in the Northeast, with eight of the bottom
10 metro areas representing the region. Hartford, Connecticut had the lowest investor
activity with a rate of just under 8%. Madison, Wisconsin, was the sole Midwestern market
on the list with a rate of about 10%. Spokane, Washington, was the only West Coast market
with a rate of 10%. Investors are most likely deterred by the stagnant population growth in
places like Pittsburgh and Hartford, Connecticut as well as stringent regulations in places
like Providence, Rhode Island.¹
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898
696
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1 According to the 2018 Wharton Residential Land Use and Regulation Index, Providence has the
third strictest land use regulations of metro areas in the US. See Gyourko, J., Hartley, J., &
Krimmel, J., The Local Residential Land Use Regulatory Environment Across U.S. Housing Markets:
Evidence from a New Wharton Index, NBER Working Paper #26573
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CoreLogic
U.S Investor Homebuying Rates: Bottom Ten MSAs, 2011-2020
Rochester, NY
Providence-Warwick, RI-MA
Pittsburgh, PA
Worcester, MA-CT
New Haven-Milford, CT
Buffalo-Cheektowaga-Niagara Falls, NY
Bridgeport-Stamford-Norwalk, CT
Hartford-West Hartford-East Hartford, CT
Madison, WI
Spokane-Spokane Valley, WA
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