Investors buying homes in metro Phoenix at slower pace

Wall Street funds and other large well-funded investors continue to buy houses in metro Phoenix, even though the pace has slowed as sales prices have jumped.

Some of the early investors, who bought in 2009, have flipped the houses for a quick profit, but most of these buyers are holding on to the properties and turning them into long-term rentals.

David Bignoli, president of real estate data research firm Netvaluecentral Inc., recently complted a report on metro Phoenix’s biggest investors. 

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