KRDO13 Investigates: Large investment companies own swaths of homes in Colorado Springs neighborhood
COLORADO SPRINGS, Colo. (KRDO) - KRDO13 Investigates reviewed public property records and found clusters of homes owned by "Institutional Investors," with some of the highest concentrations on the southeast side, including neighborhoods in the Lorson Ranch area. These companies buy up large quantities of homes to rent, and President Trump says that puts ordinary buyers at a disadvantage.
Local real estate leaders say institutional buyers often have a financial advantage in competitive markets.
"They’ve got the capital… they can give above asking price if they really want that property," Dr. Clarissa Thomas with the Pikes Peak Association of Realtors said.
The administration says the goal is to preserve housing opportunities for individual buyers and first-time homeowners.
El Paso County Clerk and Recorder Steve Schleiker, whose office records property sale deeds, said large corporate purchases are something he has seen locally. Schleiker previously served two terms as the El Paso County Assessor.
"They’re buying up these swaths of properties and turning them into rental properties and really taking them off the market where first-time homebuyers don’t even have an opportunity to compete," Schleiker said.
"I have seen large companies come in here and buying up a large amount of properties," he added.
While corporate-owned homes are spread throughout Colorado Springs, not every property held by a company would meet the federal definition of a large institutional investor.
Based on property research, two of the most prevalent corporate owners of single-family homes in Colorado Springs are Invitation Homes and American Homes 4 Rent.
KRDO13 Investigates contacted both companies for comment regarding their local presence and the new federal order.
Invitation Homes declined to comment. American Homes 4 Rent did not respond.
Schleiker said when homes sell above asking price, those higher sale amounts can affect surrounding property values.
"When people overpay for a property, that affects all of our values, which then affects the taxes we pay on the property," he said.
Local officials say Colorado Springs continues to face a limited housing supply overall, meaning additional competition for homes can make buying more challenging for many families.
It remains unclear what impact the federal order will have locally or how institutional investors will ultimately be defined for enforcement.
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