More and More Homes Being Built to Rent

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Posted To: MND NewsWire

While the numbers remain small, the National Association of Home Builders (NAHB) notes there is a slowly increasing trend of single-family homes being built specifically as rentals. Robert Dietz, chief economist and senior vice president for NAHB says that, while the small numbers mean care must be taken when identifying trends, there were solid gains in the built-for-rent market over the last year. The Census Bureau’s Quarterly Starts and Completions by Purpose and Design as analyzed by NAHB puts the one-year moving average market share of this construction at 4.5 percent of total housing starts as of the second quarter of 2016. This is higher than the historic share of 2.8 percent but down from 5.8 percent at the beginning of 2013. The percentages translate to 34,000 housing starts in this…(read more)

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