Single-family rentals (SFRs) have also benefitted tremendously from the shortage of affordable houses for sale. Demand from young families priced out of the for-sale market has been so high, more and more institutional investors expanded their strategies from acquiring single-family portfolios and turning them into rentals to building brand new BTRs (build-to-rent communities). By late fall, average rent growth for SFR properties, already strong throughout 2020 and 2021, was nearing double digits. Meanwhile, troubles experienced by the iBuying unit of house listing site Zillow (the firm got too aggressive in bidding for properties it intended to flip) have created more discounted acquisition opportunities for institutional SFR investors.
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Article via wealthmanagement.com
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