North Texas is seeing a growing number of corporations vie for single-family housing in the area.

More than 25% of all single-family homes in the Dallas-Fort Worth region were purchased by investors instead of traditional Texas homebuyers in 2022, according to research data from John Burns Real Estate Consulting (JBC), The Denton Record-Chronicle (DRC) reported.

In total, investors bought about 30% of all new and resale homes in North Texas, which amounted to a little more than 50,500 out of the nearly 170,000 homes sold last year, the consulting firm found.

The share of single-family homes purchased by investors in 2022 wasn’t equal across the whole DFW metro, though, with the Fort Worth-Arlington metro division seeing slightly more demand than the Dallas-Plano-Irving metro division.

In Fort Worth, investors scooped up 33% of all single-family properties. Dallas saw slightly less big-money demand for its residential properties, with investors purchasing about one in every four homes, according to JBC.

“Investors want to own real estate in markets such as Dallas, which performed well during the global financial crisis, and which is also becoming more diversified in the types of jobs that attracts,” said Bryan Lawrence, vice president of JBC’s Dallas branch, DRC reports.

Some of the more prominent corporate investors that laid claim to the North Texas home market over the years include Dallas-based Invitation Homes and Las Vegas-based AMH, as well as more traditional real-estate companies like Zillow, Opendoor, and Redfin.

Much of the demand for single-family housing in North Texas was fueled by pandemic shutdowns, which reshaped the traditional in-office work dynamic to better accommodate a work-from-home routine and created flexibility for relocations.

Demand for homes in North Texas began to slow in early 2022 due to the mix of rising mortgage rates, decelerating home price growth, and decades-high inflation. These challenging economic factors prompted many large investors to pause future investments in the area. Despite the tightening financial conditions, DFW reported a higher share of investor-owned homes than the 25% national average, DRC reported.

To make its market determination, JBC analyzed and compared zip code data from CoreLogic for local homes that had different ZIP codes on tax statements than the actual property. JBC noted that the share of homes owned by investors is likely higher due to the lack of updated property tax address records.