Comment by some_random

First off, this is only for homes sold in the first 3 months which based on the extremely limited data I've looked at[1] seems to meaningfully below the total number of homes sold. With that said, this is still way more than I expected, I probably would have guessed closer to 2.7% than 27%.

Edit: Oh nevermind, they included individuals owning 1-99 houses buying rental properties as investors making institutional investors more like 2.2% (of the 27%) much more in line with what I would have guessed.

[1]https://www.census.gov/construction/nrs/pdf/newressales.pdf