For the first time ever, in Q4, there were more "units built-for-rent" (BTR) started than "units built-for-sale" started, according to the Calculated Risk blog, based on data from US Census Bureau.
BTR production was up 15% in Q4 2022 compared to Q4 2021. Single-family starts were down 34% in Q4 2022 compared to Q4 2021.
CoreLogic Single-Family Rent Index (SFRI) reported that BTR rents continue to rise – by 6.4% year over year in December 2022 – however the growth rate is slipping. It rose by 12.1% in December 2021.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
