Single-family homes built for the rental market reached a record high in 2022, the National Association of Realtors said. BFR starts also accounted for an 8% share of housing starts, another new record. Such built-for-rent (BFR) housing starts jumped 35% to 81,000 units in 2022, NAR said, citing data from the Census Bureau. Meanwhile, their share of overall housing starts rose to 8% last year from 5% in 2021. Growth in this emerging sector of the housing market comes as the inventory of existing homes remains tight, leaving prospective buyers to look to new homes.

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Persons: BFR, —, Jessica Lautz, BFR's, Lautz Organizations: National Association of Realtors, Service, NAR, Midwest