Mom-and-Pop Investors Are Dominating the Housing Market—and Wall Street Is Backing Out Just as Trump Steps In

Mom-and-pop investors accounted for two-thirds of all housing stock purchased in 2025, a year when investor activity remained steady but their share of home sales increased slightly to 11.3%, up 0.3 percentage points from the previous year, according to a Realtor.com® report. Investors bought a total of 534,000 homes, with the median investor purchase amount rising 5.6%, outpacing the overall sale price increase and narrowing the gap between investor and non-investor purchases. In contrast, large investors' activity decreased by nearly 70% since 2021, while "mega" investors, those owning 350 or more homes, saw a more modest 30% decline in the same period. This data precedes market reactions to the 21st Century Road to Housing Act, a bill passed this year that introduced limitations on investors, and President Donald Trump's scrutiny of large investors' role in the housing market beginning in early 2026. Realtor.com senior economist Hannah Jones noted that the housing market has significantly changed since the COVID-19 pandemic, with inventory levels returning to pre-pandemic norms in many areas, moderated home price growth, and slowed rent increases. The Midwest and Sun Belt regions continue to be favored by real estate investors, with the Midwest offering affordable cities and the Sun Belt anticipating continued population growth. Memphis, TN, recorded the highest share of investor activity.