Market Intel

Intel

Development Could Shift as Apartments, Single-Family Rentals Become Fastest-Growing Housing Sector

Apartments and single-family rentals are showing signs of becoming the fastest-growing sectors of the U.S. housing market as home prices approach record sums that are out of reach for buyers under age 40, signaling a shift in construction demand. A lack of mortgage affordability is driving rentals to exceed sales as many potential homebuyers born between 1981 and 1996, the group known as millennials, struggle under the weight of student debt and stagnating wages, according

Read More »
Intel

America Should Become a Nation of Renters

Rising real-estate prices are stoking fears that homeownership, long considered a core component of the American dream, is slipping out of reach for low- and moderate-income Americans. That may be so — but a nation of renters is not something to fear. In fact, it’s the opposite. The numbers paint a stark picture. After peaking at 69% in 2004, the homeownership rate fell every year until 2016, when it was 64.3% — its lowest level

Read More »
Intel

Lack of Small Apartment Buildings Could Drive National Housing Shortage for Decades

The nation’s estimated shortage of at least 5.5 million affordable housing units, particularly apartments, is projected by the largest real estate group to take two decades to close without action from developers and policymakers focused on middle- and lower-income Americans. A severe lack of residential development that has trailed population growth since 2001 created a gap of 5.5 million to 6.8 million housing units of all kinds, including rentals, says real estate economics firm Rosen

Read More »
Intel

Apartment Rents Reach Highest Level in Two Years

With vaccinations increasing, the rental market is taking off. Monthly rents jumped 5.5% year-over-year to an average of $1,527 in May, according to the Realtor.com Monthly Rental Report. By comparison, before the onset of COVID in March 2020, rents were rising at 3.2%. Rents in studio apartments rose for the first time in ten months to hit a median rent price of $1,254, while one-bedroom and two-bedroom rentals reached the highest levels since March 2019,

Read More »
Intel

Phoenix No. 2 in U.S. for increase in home values

Continued torrid growth in the housing market paired with a long-awaited bump in inventory in May, according to Zillow’s latest Market Report. Home value appreciation — particularly Phoenix home values — continues to break records and typical time on market is down to just six days. Meanwhile, rents are rising quickly across the U.S., breaking out after growth was stymied under the pandemic. READ ALSO:  5 Arizona housing market predictions for 2021 Inventory is finally showing signs

Read More »
Intel

U.S. Apartments Have Risen to the Top of Foreign Investors’ Wish Lists

International investors have a new favorite type of real estate. They now spend just as much money on apartment buildings in the U.S. as they spend on their old favorite property type, U.S. office space. The change has been a long time coming. Foreign investors once had little knowledge of U.S. rental housing. Now they want the consistent, resilient income from apartments mixed into their investment portfolios and several are spending billions to buy apartment

Read More »
Intel

Apartment Technology Goes from Luxury to Necessity

Innovative technology has been driving the multifamily housing industry forward in today’s market, particularly in the past year in response to the COVID-19 pandemic. Several digital tools previously considered add-ons, such as virtual tours, ID scanning, and 3D imagery, became must-haves in the industry, which was forced to market apartments virtually to overcome pandemic-related restrictions. Leasing agents exercised an abundance of caution when showing apartments at the beginning of the pandemic, but, with COVID cases

Read More »
Intel

7 Arizona cities in Top 25 for amenity-rich apartment communities

It’s always been about location in real estate, with amenities leading the rest of the pack of decisive factors when choosing a place to call home — in fact, having the right ones can make or break a lease. The last decade has been a race for developers to win the hearts of American renters, and apartment community amenities were among the strongest incentives that could tip the contest in one competitor’s favor. While having

Read More »
Intel

REIM sells 20 New Build Townhome Units in Tempe $500K/Unit

Real Estate Intelligent Marketing (REIM) is pleased to announce the sale of The Hardy, a 20-unit new construction townhome community in the heart of Tempe, Arizona. The Hardy sold for $10,000,000 or $500,000 per unit. This is the highest price per unit sale in Tempe in the past year for new construction townhome product. The fully leased community comprises of all three-bedroom, three-bathroom, 1,707 square foot townhomes in three story buildings. All units have attached

Read More »
Intel

Fewer Apartment Dwellers Paying Rent on Time Signals Further Industry Struggles

Fewer U.S. apartment dwellers paid their June rent in the first six days of the month than in May, prompting concerns that hurdles from labor shortages to other difficulties in building more affordable units lie ahead for the industry even as the economy recovers from the pandemic. The roughly 77% of renters who made full or partial payments toward their rent by June 6 was down 3 percentage points from a rate of 80% in

Read More »

STAY REAL ESTATE INTELLIGENT