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June, 2023 SFR Industry News | Sunroom Briefing: Shining light on the Single Family Homes Industry

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SFR Industry News & Highlights

Rental-House Startup Avenue One Valued at $1 Billion in Fundraising

Tech company that helps single-family landlords acquire and sell properties raises $100 million even as deals slow.

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Setpoint Announces Acquisition of Resolute Diligence Solutions

Improves due diligence focused on Single Family Rental (SFR) and Residential Transition Loans (RTL). 

Pretium to Pay $1.5 Billion to Biggest Home Builder for 4,000 Rental Homes

New York investment firm agrees to pay D.R. Horton for homes scattered across the South 

Insurance Tech platform Obie lands $25.5M

Round led by Battery Ventures. Offering focuses on retail investors.

Data & Insights

Single-Family Rental Investment Trends Report Q1 2023 - Arbor Realty

Investor purchases, new starts, and tenant performance show strength as cap rates rise.

Tech Market Landscape

Thomvest, a VC firm releases  the SFR Technology Market Map which highlights many of the companies building across every segment of the SFR ownership lifecycle.

 John Burns Rental Market Report

A slight Uptick in the Single-Family Rental Market Index RevealedIn the latest update of the NRHC/John Burns Real Estate Consulting Single-Family Market Index for Q1 2023, recently published, a modest improvement was observed compared to the previous quarter. Key findings from this quarter's report include:

Normalizing Rental Market: The single-family rental (SFR) market is gradually normalizing after experiencing a boom during the pandemic. Rent growth remains strong, contributing to the market's resilience.

Offsetting Factors: Operating expenses have seen significant year-over-year increases, offsetting some of the gains from rent growth. Despite this, the SFR occupancies nationwide are at a healthy 96%, indicating steady demand keeping pace with the supply growth, which has been relatively restrained in many markets.

Leasing Activity: The SFR current leasing index, which measures leasing activity concerning seasonal norms, reflects an average spring leasing season, reflecting stability and consistent interest in rentals. Moderating Price Growth: Despite the rise in operating expenses, cap rates are increasing, indicating that the price growth rate is gradually moderating.

Industry Events

Sunroom was pleased to attend IMN's 11th Annual Single Family Rental Forum in Miami.

Pictured above Ben Doherty (Sunroom CEO) and Darius Salehipour (Product)

Upcoming Industry Event

NARPM Southern States Conference 2023

June 26th-29th | Greenville, SC

Sunroom Blog Articles

The Ultimate Guide to Rental Pricing Tactics

How SFR operators are optimizing their pricing strategies. Join Darius, Sunroom Head of product as he walks through the data and tactics. 

The “Unbundling” Trend for SFR Funds in 2023

The new method of optimizing scattered-site leasing portfolios 

The downsides of hiring in-house leasing teams in this market

Debating hiring in house staff, or electing to use a 3rd party.