by Calculated Risk on 2/20/2023 10:37:00 AM
Today, in the Calculated Risk Real Estate Newsletter: First time ever more “Built-for-Rent” Units started Quarterly than “Built-for-Sale”
A brief excerpt:
This graph shows the NSA quarterly intent for four start categories since 1975: single family built for sale, owner built (includes contractor built for owner), starts built for rent, and multi-family built for sale.
Single family starts built for sale (red) were down 34% in Q4 2022 compared to Q4 2021. And owner built starts (orange) were down 10% year-over-year.
Multi-family built for sale decreased and are still low.The ‘units built for rent’ (blue) and were up 15% in Q4 2022 compared to Q4 2021. For the first time since this series started in 1974, there were more units built-for-rent started in Q4 2022 than single family units built-for-sale started.
There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/