Parcl Labs reposted this
Ever wonder what % of homes for rent in your market are from accidental landlords? Quantifying this at scale is a very hard data problem - property data, ownership, sales, for sale listing data, for rent data live in many different data silos that is fragmented even within a single market. To understand it - you need to use from MANY sources of information - index the data to the unit - and construct a clean history of events that consider sale, listing, and rental events. Then analyze it and create meaning. Not easy. But that's exactly what we've built with our data ecosystem at Parcl Labs. It accelerates our ability to create unique, highly insightful metrics on what's going on in the housing market. That's how we were able to create our accidental landlord metric - what percent of single family for-sale listings convert to rentals. I've been sharing the rate of single family rental conversions (for sale to for rent) for major metros. We picked these metros specifically because they have the largest concentration of institutional operators — we're interested in this competitive dynamic 👀. Last up in our research markets - for now - is Dallas. Current rate: 6.5% of single family for-sale listings convert to rentals. Trending similar to Houston (6.7%) - both Texas markets showing upward movement through 2023-24 before recent settling. How it stacks up - current rates: Atlanta: 8.1% Houston: 6.7% Dallas: 6.5% Charlotte: 6.5% Tampa: 3.4% I've attached the chart for Dallas. If you found this series interesting and useful - you should sign up for our API: 1️⃣ Monitor and track this metric live for any market in the US 2️⃣ We share all of our research with our API community first 🔗 Free to get started - link in comments 📧 Questions about this research? Email us at team@parcllabs.com #RealEstate #Dallas #SingleFamilyRental #PropTech
