Sunday, October 23, 2016
ATTOM Data Solutions Reports Single Family Rental Returns Drop to Nine-Year Low in 2016 as Institutional Investor Purchases Rise in 68 Percent of Markets
IRVINE, CA — ATTOM Data Solutions, the nation’s leading source for comprehensive housing data and the new parent company of RealtyTrac, released its Q3 2016 Single Family Rental Market Report, which found that average single family rental returns dropped to a nine-year low for homes purchased so far in 2016 among 473 U.S. counties analyzed for the report.
The average annual gross rental yield — monthly rent, annualized, divided by median home price — among the 473 counties was 8.7 percent for properties purchased in the first seven months of 2016, down from an average of 8.8 percent for the same time period in 2015 to the lowest level since 2007, when the average gross rental yield across the 473 counties was 7.3 percent.
“While average rental returns on properties purchased so far in 2016 are at a nine-year low, these returns are still attractive compared to alternative investing opportunities,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.
“After a drop-off in single family purchases by both individual and institutional investors over the past two years, we’re starting to see investor acquisition activity pick up again.
“Given shifting attitudes toward homeownership that are showing up in stubbornly low homeownership rates and our data showing more than 18 million non-owner occupied single family homes — one in every four single family homes — these single family rental investors will be an important and likely growing force in the real estate market for years to come.”
For a complete copy of the company’s news release, please contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
Posted by Alex at 12:43 PM