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Atlanta leads all major U.S. metro areas in home purchases by real estate investors.

The activity is concentrated in the metro area's southern and western suburbs, while the city of Atlanta and its northern suburbs are relatively quiet.

Investors bought 33% of the homes sold in metro Atlanta from January through March, according to a June 15 report from national brokerage firm Redfin. That share of investor purchases led the 40 most-populous metro areas in the United States.

Redfin considered county sale records for homes purchased from January 2000 through March 2022 for the report. The company defined an investor as any buyer whose name included at least one of the following keywords: LLC, Inc, Trust, Corp and Homes, and any buyer whose ownership code on a purchasing deed included at least one of the following keywords: association, corporate trustee, company, joint venture and corporate trust.

An Atlanta Business Chronicle analysis of more than 180 metro Atlanta ZIP codes shows that investors focused their attention on the metro areas south and west sides, where prices are lower than in other parts of the region. For this analysis, we considered ZIP codes with at least 100 home purchases during the first three months of this year.

Investors bought at least 60% of homes for sale in seven metro area ZIP codes. They are:

30296, Riverdale (65% investor share of purchases)
30016, Covington (63%)
30058, Lithonia (62%)
30349, College Park/South Fulton (61%)
30134, Douglasville (60%)
30213, Fairburn (60%)
30238, Jonesboro (60%)

Each of these ZIP codes had median home prices that were far below the median price in metro Atlanta as a whole during the month of May. But, the increased investor activity drove prices up at a faster rate.

Each of the ZIP codes had a median price between $243,000 and $360,000 in May. Metro Atlanta's median price was $430,000.

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