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New Construction Soars as Rent Growth Retreats from its Peak
The single-family rental (SFR) market maintained a favorable outlook in the third quarter of 2022 as the national housing market began cooling. Amid economic headwinds, SFR is well-positioned as a primary alternative for would-be homebuyers priced out of ownership in today’s high-interest-rate housing market.
- SFR rent growth slows, although it remains elevated, as renewal rent growth gains steam.
- Cap rates remain unchanged at 5.3% despite rising interest rates.
- Build-to-Rent (BTR) construction starts totaled 69,000 over the past year, another new record high.
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