See how single-family rental juggernaut Invitation Homes lays out its plans to spend $1 billion on houses in an already overheated market
Summary List Placement America''s hot single-family home market has made it a great time to sell and tricky to buy as near-record low mortgage rates and an exodus of residents from cities to the suburbs during the pandemic has dramatically spurred demand for houses and a dearth of supply. Among the winners of America''s growing obsession with home-buying are large public single family rental, or SFR, companies, such as Invitation Homes and American Homes 4 Rent, which have, over the past decade, amassed portfolios of tens of thousands of houses. The firms completed record investment activity last year and are poised for even more acquisitions in 2021. Despite the rising prices and intense competition for homes, the companies have been able to outmaneuver everyday homebuyers by paying cash for houses and closing on deals more quickly . The companies see the current market conditions as a favorable moment to pounce as more prospective buyers are priced out by rising home values and mortgage interest rates that are expected to increase, forcing many to instead rent.
See how single-family rental juggernaut Invitation Homes lays out its plans to spend $1 billion on houses in an already overheated market
Summary List Placement America''s hot single-family home market has made it a great time to sell and tricky to buy as near-record low mortgage rates and an exodus of residents from cities to the suburbs during the pandemic has dramatically spurred demand for houses and a dearth of supply. Among the winners of America''s growing obsession with home-buying are large public single family rental, or SFR, companies, such as Invitation Homes and American Homes 4 Rent, which have, over the past decade, amassed portfolios of tens of thousands of houses. The firms completed record investment activity last year and are poised for even more acquisitions in 2021. Despite the rising prices and intense competition for homes, the companies have been able to outmaneuver everyday homebuyers by paying cash for houses and closing on deals more quickly . The companies see the current market conditions as a favorable moment to pounce as more prospective buyers are priced out by rising home values and mortgage interest rates that are expected to increase, forcing many to instead rent.