Trends in Los Angeles Real Estate

What trends in Los Angeles real estate did the Harb & Co. Team discover in 2024?

We had a client sell a rented Burbank condo. Although they had a 2.5% mortgage, they hated the homeowner’s association (HOA). We have seen a trend of absentee landlords selling because they are disenchanted with the HOA.

Another client sold their long-term Glendale income property because of a problem tenant, and another sold a long-term Burbank rental after their tenant moved.

We continue to see many homeowners refusing to trade their low-interest mortgage for a higher one. If rates could drop to 5%, I think we would see more people trading up.

I went on a listing appointment for a La Crescenta homeowner considering selling their rental. More “mom and pop” landlords are selling, and big landlords are taking over.

Here are some of the largest U.S. entities known for owning single-family homes or condos:

Invitation Homes: As the largest owner of single-family rental homes in the U.S., Invitation Homes manages over 80,000 homes across various markets.

American Homes 4 Rent (AMH): This REIT (a real estate investment trust) is significant in the single-family rental market. In 2019, it owned more than 52,000 homes and operated in over 22 states.

Progress Residential owns over 85,000 single-family homes in 30 rapidly growing metropolitan areas.

Blackstone: Through acquisitions like Home Partners of America and Tricon Residential, Blackstone has expanded its holdings in single-family homes, with Tricon alone owning nearly 40,000 homes in key markets like Atlanta, Charlotte, Dallas, Phoenix, and Tampa.

These entities have been pivotal in shaping the landscape of single-family rental housing in the U.S. They are often backed by significant capital from private equity or investment firms. Primarily, they focus on buying, renovating, and managing homes for rental purposes. However, the exact number of homes each entity owns can fluctuate due to ongoing sales and acquisitions in the market.

One thought on “Trends in Los Angeles Real Estate”

Sam says:

January 2, 2025 at 7:54 am

I wish a law could be passed that restricts big corporations from being able to buy up all the single family homes. It’s so hard for regular people to compete as buyers and renters

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Trends in Los Angeles Real Estate

Here are some of the largest U.S. entities known for owning single-family homes or condos:

One thought on “Trends in Los Angeles Real Estate”

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