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The single-family home rental sector should experience solid growth for at least the next decade, buoyed in part by demand from millennials, a shortage of housing and greater acceptance as a viable investment, according to the CEOs of single-family housing REITs.
The CEOs participated in a Dec. 6 panel discussion presented by the National Rental Home Council at the IMN SFR Investment Forum West in Phoenix.
Tim Naughton, the 2017 NAREIT Chair and the chairman and CEO of AvalonBay Communities, Inc. (NYSE: AVB), joined REIT.com for a CEO Spotlight video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.
In the latest episode of The REIT Report: NAREIT’s Weekly Podcast, Britton Costa of Fitch Ratings discussed how developments in the housing and mortgage markets are affecting the multifamily REIT sector.
Costa described Fitch’s outlook for the housing market this year as “fairly positive.” Prices for single-family housing should approach previous market highs, according to Costa, but the underlying values will be more sustainable.
The Federal Reserve’s decision at its Sept. 17 meeting to keep interest rates unchanged has done little to alter the favorable long-term outlook for the United States’ commercial real estate sector, according to market observers.
Steve Rado, a principal at EY and leader of the firm’s U.S. real estate mergers and acquisitions (M&A) advisory practice, said most long-term real estate investors will continue to favor the asset class.
Investors expect positive trends to continue in the commercial real estate industry for the rest of 2014 despite anticipating rising interest rates, according to consulting firm PwC.
A PwC survey of real estate investors in the second quarter of 2014 noted that respondents expressed confidence that the industry would handle anticipated increases in interest rates without serious disruption to its recovery.
At the same time, competition among buyers is likely to remain strong and keep prices for the best properties elevated, the PwC survey said.
