The first quarter of the year saw the construction of 6,000 single-family built-for-rent homes
The start of the year saw a slight decline in the construction of single-family, built-for-rent homes, according to the National Association of Home Builders.
The first quarter saw 6,000 homes built for rent, while total production of single-family, built-for-rent homes was 33,000 homes over the past four quarters.
On a one-year moving range, the market share of this type of housing was at 4.1% of total starts as of Q1 this year.
Currently, the market share of single-family, built-for-rent homes remains above the historical average of 2.8% but is still lower than the 5.8% average at the beginning of 2013.
The share of built-for-rent homes increased due to the onset of the recession and current decline of homeownership rate, but single-family starts for built-for-rent homes are still considerably low compared with the total building market.
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Single-family sales rise in Houston
Single family permits remain subdued despite recovery
The first quarter saw 6,000 homes built for rent, while total production of single-family, built-for-rent homes was 33,000 homes over the past four quarters.
On a one-year moving range, the market share of this type of housing was at 4.1% of total starts as of Q1 this year.
Currently, the market share of single-family, built-for-rent homes remains above the historical average of 2.8% but is still lower than the 5.8% average at the beginning of 2013.
The share of built-for-rent homes increased due to the onset of the recession and current decline of homeownership rate, but single-family starts for built-for-rent homes are still considerably low compared with the total building market.
Related stories:
Single-family sales rise in Houston
Single family permits remain subdued despite recovery
