article thumbnail

Single Family Build-For-Rent Homes Reach All-Time High

Pro Builder

Phoenix, Ariz., leads the market with 5,500 homes under construction in 2023, followed by Dallas (4,400 units), and Houston, Texas (2,600 units). For example, Phoenix leads this list as well with 6,000 of its BFR units being built in the last five years. They averaged at 1,361 square feet, four bedrooms, in 2022—up 2.6%

Phoenix 102
article thumbnail

Housing Market Outlook: Should Buyers Wait it Out?

Pro Builder

Almost two-thirds of June listings resulted in bidding wars, and buyers continue to sweeten their offers by offering vacations and even crypto, but inventory remains low. Hale said, the late summer is a good time to buy, particularly in mid-September, with inventory often dropping around the winter holidays. Historically, Ms.

Housing 52
article thumbnail

Homebuying Activity Returns as Inventory Increases

Pro Builder

Homebuying Activity Returns as Inventory Increases. An uptick in homebuying activity in June after months of decline shows slowed buying activity resulted from low inventory, says the National Association of Realtors (NAR). June housing inventory was up 3.3% Phoenix issued the third highest number of permits at just over 36,000.