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- Single-family residential REIT Invitation Houses (NYSE:INVH) stated its quarter-to-date till August common occupancy got here in at 97.1%, in comparison with 97.5% in Q2.
- INVH shares had been buying and selling -4.59% at $35.57 Friday morning.
- The August common occupancy displays seasonal transfer out expectations, INVH stated in a Sep. 5 presentation.
- Renewal lease charge progress got here in at 4.4%, vs. 5.6% in Q2. New lease charge progress was 1.9%, vs. 3.6% within the earlier quarter. Blended lease charge progress was 3.7%, vs. 5.0% within the prior quarter.
- “In all 16 of our core markets, it’s 33% extra reasonably priced to lease a house than it’s to purchase, by a weighted common financial savings of almost $1,200 monthly,” INVH stated, citing John Burns knowledge.
- “Common family earnings of our new residents (T12M) is over $164K per yr, representing an earnings to lease ratio of 5.8x as of 2Q24,” stated the presentation.
