Tag: Rentals
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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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10 Places Where Lower Mortgage Rates Will ‘Unlock’ the Housing Market the Fastest
For several years, high mortgage rates have frozen much of the housing market. Many homeowners who were locked in at prior lower rates remained unwilling to sell and assume a new, more costly mortgage. However, as rates begin falling, a new Realtor.com® analysis reveals the metro areas that could see the earliest signs of thawing…
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Why Florida Is No Longer the Ideal Retirement Destination
Florida has long been synonymous with retirement dreams: sandy beaches, warm weather, and a laid-back lifestyle. However, recent trends indicate that the Sunshine State is losing its appeal for retirees. Rising housing costs, extreme weather events, and other factors are causing a shift in perception. In this blog post, we’ll explore why Florida may no…
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Asking Rents Experience First Decline in Four Years Across Unit Types
So far in 2024, all apartment unit sizes are seeing their first annual decline in asking rent since 2020, with the national median at $1,647. In a noteworthy shift for the multifamily housing market, asking rents have slipped across all unit sizes for the first time since 2020, according to a recent Redfin report. This…
Daniel Kaufman Real Estate 