As Wall Street’s rental-home industry matures from its early days of frenzied homebuying after the foreclosure crisis, upstarts such as Promise are turning to cheaper houses that have largely been cast aside by big, established landlords.
For-sale houses have emerged as a greater source of competition for existing SFR assets, along with new houses that are being built to be rented.
Fannie Mae and Freddie Mac have both announced programs that provide long-term financing at competitive interest rates to help investors refinance and acquire SFR properties.
Here are the top 10 markets where investors have been seeking more acquisitions, according to online real estate investment and management firm HomeUnion.
The residential real-estate market is benefiting from steady demand backed by a strong job market and low mortgage rates.
Rents are likely to keep growing through 2020, but at a slower rate that will get closer to its historical average of 2 percent.
Already, there has been talk of investors coming into the Houston region—whether from institutional or opportunity buyers—but little action, says Chris Clothier, a partner with Memphis Invest.