Providers of single-family rental homes have increasingly turned to the development of new housing over the past two years.
Data released this week from the National Rental Home Council and John Burns Real Estate Consulting shows that build for rent homes accounted for 26% of properties added to the portfolios of single-family rental home providers in the fourth quarter, up from just 3% in Q3 2019. Meanwhile, acquisitions of existing individual homes by SFR providers decreased from 81% to 57%.
More than half of the 651 BFR communities in John Burns Real Estate Consulting's database (51%) were built in the past five years—and more than one-quarter (27%) were built in the past two years. The company's Danielle Nguyen has said she is "highly confident" that supply of new BFR homes will increase "dramatically' in the near term.
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