Confidence in new multifamily housing increased in the third quarter, according to results from the National Association of Home Builders’ Multifamily Market Survey. The survey produces two separate indices: the Multifamily Production Index/MPI and the Multifamily Vacancy Index/MVI. Historically, the MPI and MVI have performed well as leading indicators of
Arizona’s economy is recovering at a much faster pace than predicted at the height of COVID-19. While there are potential setbacks on the horizon, the economic outlook ahead looks surprisingly bright, state and national economists and budget analysts said Thursday at the annual conference of the nonprofit Arizona Tax Research
Multifamily sales volume in Tempe, Arizona, has already surpassed 2019’s total and is approaching a record high. Neither the pandemic nor the thousands of luxury apartments set to deliver over the next few quarters have deterred interest in this high-demand submarket. Private and institutional investors are bullish on the submarket’s
Investors are on pace to build many more new build-to-rent (BTR) houses in 2020 than they did the year before—spurred by a demand that’s a byproduct of the upheaval caused by the COVID-19 pandemic. The subdivisions of new rental houses now under construction are often designed to attract young families, who are looking
Though there is some erosion in fundamentals, apartments are doing much better than retail. “Things are holding up better than I think most of us would have anticipated,” says Brian Stoffers, global president of Debt and Structured Finance for Capital Markets at CBRE. But the problems in retail may be
Multifamily has weathered the 2020 recession better than most property sectors and is looking at a quicker rebound next year, according to a recent report by CBRE. However, it still has been a tough year with many owners losing rental income as well as ancillary income from waived fees, deferred
When the pandemic struck earlier this year, a large swath of Generation Z moved back home. Now many are returning, drawn by generous concessions and generation-friendly technology. A new Zillow survey found that concessions such as a free month of rent, free parking or a reduced security deposit enticed nearly
Apartment construction starts in the first half of 2020 were the lowest since 2014. And while it is not surprising that developers delayed or canceled plans to start projects in light of recent weak lease-up trends, it is surprising that roughly 20% of the new apartments are being started in
If there’s one thing about millennials, they don’t like being lumped into a particular category. And that’s true for where they want to live. Many are taking their first steps toward home ownership on the outer fringes of the Valley, while others are happy renting in a lock-and-leave lifestyle in
The lending market may be starting to thaw. The number of loan applications has risen over recent weeks, which is a hopeful sign closings could increase toward the end of the year, according to the latest research from CBRE. Another sign that the market may be starting to move: alternative
