Tag: build to rent
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Multifamily Market Awaits Impact of September Rate Cut
As we move into September, the multifamily market is on the edge of its seat, eagerly anticipating the Federal Reserve’s decision to cut interest rates. August saw a steady performance in the sector, but the potential rate cut brings a mix of hope and caution. Key Highlights: Regional Insights: Looking Ahead:The upcoming rate cut decision…
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Rising Wages and Stable Rents Boost Apartment Affordability
U.S. apartment affordability is on the rise as stable rents and increased wage growth create a more favorable rental market. In August, U.S. apartment rents saw a modest 0.9% year-over-year increase, the largest in 18 months, while a surge in multifamily construction has kept rents relatively stable. Key Takeaways By the Numbers According to a Redfin…
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Mid-Priced Apartment Demand Soars, Surpassing 2023 Levels
Demand for mid-priced, three-star-rated apartments has surged in 2024, with absorption already exceeding last year’s total. According to CoStar, demand for mid-priced, 3-star apartments shot up 86% year-over-year in Q1 2024 and surged 126% from Q2 2023. Key Metrics: Regional Highlights: Sun Belt markets dominated the top 15, while Northeast regions like NYC and Philadelphia also…
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Home Price Cuts Reach Highest Level in 5 Years: A Buyer’s Market Emerges
The typically hot summer housing market cooled off last month, likely due to persistently high mortgage rates. However, this shift could spell good news for homebuyers. According to a new report by Realtor.com®, the number of homes actively for sale in August was 36.2% higher than the previous year, marking the 10th consecutive month of…
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High-Supply Multifamily Markets Show Signs of Stabilization as Demand Absorbs New Units
High-supply multifamily markets are beginning to stabilize as renter demand absorbs new units, leading to improved occupancy rates. In Q2, nearly 70% of inventory in these markets experienced negative rent growth. However, this trend is expected to reverse as demand outpaces new supply. Multifamily property values appear to have stabilized, with capitalization rates expected to…
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CoreLogic: Homes Sales Are Down, So Why No Recession?
In a surprising twist, the historical link between housing downturns and recessions appears to be weakening. Despite a significant decline in home sales and residential investment in 2023, the broader U.S. economy remains resilient. Unemployment rates are low, and GDP growth is strong, defying traditional economic predictions. Decoupling Housing from the Economy Several factors may…
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The 10 Most Popular Housing Markets Americans Are Flocking To
If moving to Columbus, OH, is on your to-do list, get your best offers in early because this Midwest city tops the list of the most popular housing markets in the U.S. for 2024. Columbus: A Rising Star Columbus, a bustling college city with a population of over 2 million, has risen to the top…
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Nearly One-Third of All Apartment Renter Households are Starting Out Singles
In today’s data-driven world, understanding demographic and population trends is crucial for supporting new developments and addressing economic challenges. These insights help allocate resources more efficiently and design more sustainable communities. The study reveals that the typical U.S. apartment renter is 31 years old, earns approximately $73,000 annually, and lives in a 900-square-foot unit. While…
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The 10 Markets That Could See the Biggest Home Affordability Gains as Mortgage Rates Drop
Mortgage rates are set to decline, and some areas could see bigger gains in home affordability than others. A new Realtor.com® analysis highlights the metro areas where affordability for the median earner will improve the most if rates drop to 6.3%, which could happen in the coming months. Key Findings The monthly savings on house…
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Berkeley’s Bold Move: Overturning Single-Family Zoning
Berkeley, California, once a trailblazer in adopting single-family zoning, is now poised to break new ground again. The city council’s plan to eliminate most single-family zoning districts has drawn national attention, aligning with a growing trend across the U.S. to address housing shortages and encourage multifamily development. The Shift Away from Single-Family Zoning Berkeley’s move…