📍The 2019 outlook is promising – Palomino, co-founder and principal at Virtua Partners, says single family rentals are positioned to outperform stocks in 2019, as the market reacts to a slowdown in economic growth and recession fears. She cites the Great Recession, in which “single-family rentals did not have a down year in occupancy or rental rates.”
📍 Housing Is Bolstered by Low Unemployment – Haber, a real estate agent at Warburg Realty Partnership, says that while the fundamentals of individual rental markets differ, two things are driving momentum: employment and interest rates. “Generally speaking, a low unemployment environment translates into a stronger housing market,” Haber says. “Right now, we have both low unemployment and low interest rates.”
📍 Renter Profiles are Shifting – While low interest rates and job growth are leaving a positive mark on housing, Keith Sneddon, founder and managing partner of the private client team at Compass says “Renting single-family homes has become a new norm.” He identifies three specific renter profiles that are fueling the new normal in the housing market. The first is renters who can’t afford to buy because they lack a down payment on a mortgage. The second is those who don’t want to buy because they want flexibility. And the third group includes those who choose not to buy because they feel that real estate values will soften in the future.
Let’s get you pre-qualified today, call me Terin Branhan, Realtor with Norman & Associates at 678.203.5630 or email firstname.lastname@example.org.
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