Single-family landlords are eyeing opportunities in the slowing U.S. housing market, betting that lower demand from consumers will lead builders to offer discounts.
American Homes 4 Rent, the third-largest single-family landlord, is taking calls daily from a variety of potential sellers, including national builders, Chief Executive Officer David Singelyn said at an industry conference last week. He said builders are currently offering small concessions on deal terms even as they hold the line on price, but he expects that to change.
“We’re going to see those prices come down,” Singelyn said. The landlord is “sitting on a significant amount of investable cash and funds, and we can take advantage of those opportunities.”