With residential single family sales cooling in the second half of 2022, there is an uptick in new construction multifamily units being built with the purpose of being rental units. Less and less buyers will be able to afford a new home with interest rates on the rise which mean there will be continued growth in demand for rental units. Rents are at all time highs but due to most buyers being priced out of the market there will be lots of opportunity to buy and hold at an attractive return. Housing prices will adjust but rents are unlikely to decline.
Credit: Kerry Smith