Home Partners to halt single-family home buying in 38 markets

Blackstone-owned Home Partners of America has announced that it will stop purchasing single-family homes in 38 US cities as it starts to back away from the cooling housing market.

Starting September 01, Home Partners – an operator of single-family retail homes acquired by Blackstone last June for $6 billion – will pause applications and property submissions in 28 metros, including Boise, Idaho, Fresno, Calif., Memphis, Tenn., and other areas. It will continue to halt activity in additional 10 markets on October 01.

“We assessed several factors such as home price appreciation, state and local regulations and market demand to guide our investment plans to best serve consumers,” Home Partners said in a statement. “We hope to resume purchasing homes in these markets in the future.”