Rents rise, more investors seek opportunity - ABC 33/40 - Birmingham News, Weather, Sports

Rents rise, more investors seek opportunity

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Since the housing market tumbled and foreclosures became a constant eyesore, many people have been pushed into the rental market, some by choice, others by necessity. As a result, the distressed housing market has also caused rent costs to rise. So, some people see the rental market as a source of income growth.

In fact, the National Association of Realtors finds that 27 percent of home purchases in 2011 were from investors, that's up 10 percent from the previous year.

Local investor Pam Miller has been renting out a home in Hueytown for several years. But for her, she's only renting because she hasn't been able to find a renter who could buy the home.

Tune into Focus @ 4 Friday. We'll break down what's happening locally, as well as speak with a finance expert on real estate conditions.

For more information and other facts and figures, visit: The Federal Housing Finance Authority website.