Investors are paying up to 35% above the median sales price, adding pressure for everyday homebuyers

In Western and coastal states such as Montana, Utah, and California, where housing affordability is most stretched, median investor purchase prices reach up to 35% above the typical local sales price. At the same time, investors in more affordable states like Michigan, Maryland, and Virginia are targeting lower-priced homes, some in excess of 50% below typical sales prices.