INVH · Earnings call · 2026Q3T · Full report

Geographic Market Commentary

Invitation Homes Inc. · 2026-10-28 · Importance 10 · Surprise 6

Management described Invitation Homes’ Sun Belt positioning as fairly good and said its markets are showing slightly lower comparable supply year over year. Migration indicators showed positive movement into Houston, Dallas, Austin, Tampa, Phoenix, and Atlanta, although not at pandemic-era levels. Within Florida, South Florida had somewhat more supply, while Orlando, Tampa, and Jacksonville showed year-over-year supply improvement. Management emphasized that market conditions vary and are assessed by comparable home, submarket, and price point.

Key facts

• Invitation Homes said Houston, Dallas, Austin, Tampa, Phoenix, and Atlanta were showing positive signs of migration into the markets, based on Oxford Economics data it follows.
• Invitation Homes said South Florida had somewhat more supply, while Orlando, Tampa, and Jacksonville showed year-over-year reductions in supply.