The population surge of millennials, coupled with the housing supply shortage endemic across the US, will drive demand for single-family rentals in infill neighborhoods in high-growth markets, a SFR exec told investors recently.
"We believe that the operating fundamentals for our business remain fantastic and that the environment for growth remains favorable with our opportunities to creatively deploy new capital among the best we've seen in recent years," Dallas Tanner, president and CEO of Invitation Homes, said on a recent earnings call.
Tanner said Invitation's average occupancy is at "historically high levels," with turnover trending lower and rental rate growth surging well past the traditional summer leasing window. One reason? Demographics.
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