Institutional investors continue to pump money into the single-family rental home market. The latest example: the Public Sector Pension Investment Board, one of Canada's largest pension investment managers, and alternative investment management firm Pretium have formed a joint venture that will initially invest $700 million into SFRs in the southeastern and southwestern US.

Capital has been increasingly interested in this particular asset class, especially over the last year when it became competitive with multifamily.

JLL recently closed a recent $133.7 million capitalization on behalf of Haven Realty Capital with an institutional equity source for a six-property portfolio of new and to-be-built homes in the greater Atlanta area. Last fall, Invitation Homes and Rockpoint Group announced a $1 billion joint venture to operate single-family rentals in the Western US, Southeast US, Florida and Texas. In November, RangeWater launched an $800 million platform to build and operate 15 SFR communities across the SunBelt (a region that's having a major moment).