MARKET INTEL

Intel

These Are the Effects Landlord Concessions Have on Apartment Rents

During the last year, it’s become clear that multifamily owners and operators have been using concessions to draw renters in. But a new report from Moody’s Analytics suggests that the use is broader and effective rents are taking a hit. Effective rents, Moody’s points out, are not one of the

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Intel

Metro Phoenix Housing Data Shows More Positive Than Negative Trends

For the first time in months, year-over-year Metro Phoenix housing data for January 2024 showed more positive trends than negative movement, according to Phoenix REALTORS®. “Coming into January, we believed that 2024 was going to be better than 2023,” said Sheryl Bowden, president of Phoenix REALTORS Board of Directors. “The

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Intel

Looking Up: Optimism Greets Multifamily Investors for 2024

Last year, the debt markets were defined by increased interest rates and limited capital availability—but it seems the tide is changing. In 2024, multifamily investors can look forward to an improvement in interest rates, particularly in the second half of the year, and increased liquidity, according to Hilary Provinse, EVP

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Intel

When Prices Go Low, Are Your Ready to Buy?

Headlines continue to suggest that the financial outlook for commercial real estate—even for multifamily housing—ranges from bleak to middling at best. The industry is facing very real concerns about an impending recession, imminent debt maturities, high delinquencies, and flat rents. But this year might just be different than the wild

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Intel

Here’s Where Arizona Ranks for Attracting Out-of-State Movers

Gen Z may prioritize job opportunities and sunshine over affordability when moving out of state. A new Zillow analysis of the U.S. Census Bureau’s 2022 American Community Survey (ACS) finds Gen Z interstate movers flocked to California, even as the state experienced the highest outbound migration among all out-of-state movers. But Arizona

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Intel

Apartment Investors Poised to Put $240B to Work

Optimism is back in the multifamily lending space, according to the vibe last week at the National Multifamily Housing Council Conference in San Diego. RealPage Chief Economist Jay Parsons, a panelist at the event, said this week that while 2024 will be a banner year, many are embracing the theme,

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Intel

59% of Long-Term Renters Say Homeownership Feels Out of Reach

For the majority of long-term renters (59%), homeownership doesn’t feel possible for them, including 41% who say it feels impossible, according to a new survey from NeighborWorks America. As affordability challenges continue in the housing industry, 64% say homeownership doesn’t feel attainable, and 66% say they are surprised by the

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Intel

New Construction Remains on an Upward Trend in Phoenix for 2024

Multifamily construction starts declined in 2023, but exceeded expectations considering the turmoil in the financial markets. A new report on multifamily construction starts from Yardi Matrix reports that the number of units that broke ground in 2023 ranks third in recent years, behind 2022 and 2021. The report also says new construction

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Intel

‘Real Money’ Is Out There If You Look

Illinois Sen. Everett Dirksen, perhaps the last great Congressional orator, didn’t like spending the peoples’ money. To make his point he once said: “A billion here, a billion there, pretty soon it begins to add up to real money.” That quip has become synonymous with government overspending. When it comes

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