Shadow ‘accidental landlord’ housing market supply could be looming, says giant institutional landlord

Invitation Homes CEO Dallas Tanner: ‘What do the mom and pops do, that are maybe sitting on a home they’re trying to sell? Does that come back into play as well?’

[Photo: Lance Lambert]

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter.

Invitation Homes, one of the nation’s largest single-family rental landlords with 85,961 wholly owned homes, says the rental supply picture is improving recently in some markets that have been hardest hit by the multiple-year cyclical cooling that followed the pandemic housing boom. But on its Q3 2026 earnings call on Thursday, management flagged a wild card it’s keeping an eye on: “shadow [SFR] supply.”

Tim Lobner, COO of Invitation Homes, said single-family rental listings from large operators were down 13% year over year........

© Fast Company