Single-Family Built-for-Rent Construction Surges
The NAHB’s Eye on Housing says Single-family built-for-rent (SFBFR) construction surged during Q2, 2022 as higher mortgage rates caused homebuying affordability to decline. According to analyzed Census data, there were approximately 21k single-family built-for-rent (SFBFR) starts during the second quarter of 2022 – a 91% gain over Q2, 2021.
“The SFBFR market is a means to add inventory amid challenges over housing affordability and downpayment requirements in the for-sale market, particularly during a period when a growing number of people want more space and a single-family structure. Single-family built-for-rent construction differs in terms of structural characteristics compared to other newly-built single-family homes, particularly with respect to home size.”