Market Intel

Intel

Here’s Where Arizona Ranks as a top Moving Destination

mericans are moving into Idaho, and Idaho is moving up—in the ranking of most popular 2019 moving destinations, that is. Arizona is the third-most-popular inbound state. According to the results of United Van Lines’ 43rd Annual National Movers Study, which tracks customers’ state-to-state migration patterns over the past year, Idaho saw the highest percentage of inbound migration among states experiencing more than 250 moves* with United Van Lines: 67.4 percent. This is Idaho’s first time leading the list of inbound states in more than 25 years. However, for

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Intel

SFR Growth Will Outpace These Asset Classes in 2022

Single-family rental growth is expected to outpace multifamily, office, retail, storage, and hospitality growth by 2022, according to a new report by Walker & Dunlop. The single-family rental and build-for-rent sectors are among those with the strongest growth across all asset classes, with institutional investor interest in the space booming. While traditionally the SFR market has been dominated by individual or small-scale investors, the Great Recession changed all that—and the trend has only accelerated under

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Intel

Across the Nation, Apartment Landlords Begin To ‘Inch Out of This Pandemic’

Some multifamily landlords are becoming more optimistic about a steady recovery from the pandemic as rising rent and occupancy rates in their buildings reflect some of the strongest rental rate growth and rent collection rates nationally in more than a year. Sean Burton, CEO of Los Angeles-based multifamily developer and investor Cityview that focuses largely on the Western United States, said that, throughout the bulk of his company’s portfolio, the need to offer concessions has

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Intel

Arizona is the No. 7 most popular state in which to move

Arizona was the seventh most popular state to move to in 2020, according to a recent survey. Move.org conducted a Pollfish survey of 700 Americans who moved homes last year. • 14% of movers moved to a different state. • 43% of movers said the cost of living was a deciding factor in their move. READ ALSO: The 10 best places to move in Arizona in 2021 Arizona was ranked the second most affordable state,

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Intel

Apartment Concessions Decline as New Leasing Stabilizes

After a seasonal lull in December, multifamily applications and move-in volumes are all up for a third consecutive month, according to MRI Software. In March, traffic hit higher levels than it did in summer 2020. March’s traffic hit roughly 140% of March and February from that year. Call volumes associated with leasing also hit volumes not seen since last summer. Online applications grew faster than overall application volumes, showing that online leasing is taking hold.

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Intel

Gen Z Renters Are Ditching The City In Favor of ‘Vibrant’ Suburbs

A recent survey of Gen Z renters conducted by the National Apartment Association in partnership with Statisfacts/Apartment Ratings late last year shows a sharp contrast in preferences compared to other cohorts.    Compared to pre-pandemic millennials who embraced both migration and dense urban cores, more than half of Gen Zers surveyed said they’ll stay put after graduating from college, with 44% saying they prefer a vibrant suburb over city life. And 43% say they want to

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Intel

Where Apartment Rents Are and Are Not Rebounding

In March, as GlobeSt.com reported, Apartment List’s national index jumped by 1.1%, which was its largest monthly increase going back to the beginning of 2017. That doubled historical growth in the month. In the previous three years, March’s year-over-year rent growth was 0.6%. In addition, the rent growth in March knocks out COVID’s declines in Apartment List’s index. The index recently started growing ahead of seasonal trends seeing improvement in both pricey coastal markets and

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Intel

Apartment Rent Spreads Stay Negative But the Climate Improves

While rent spreads on new apartment leases were negative 0.6% in March on a year-over-year basis and negative 0.8% on a 12-month basis, conditions are improving, according to the BTIG Monthly Apartment REIT Report. In September 2020, rent spreads on new apartment leases hit a low with a 1.3% year-over-year drop. BTIG expects rent trends to accelerate as people return to their offices. It anticipates demand picking up in the summer before expected office and

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Intel

Multifamily Developers Struggle to Build Garden Apartments

High-end, high-rise apartments in densely-developed urban areas were hurt badly by falling rents and occupancies in the pandemic. Less-expensive, garden apartments fared much better. And developers are eager to build more to meet demand as the economy recovers. But starting construction on a new garden apartment property is an easier goal to set than it is to achieve. That’s because high materials prices and delays in delivering them have driven up development costs.   “Developers

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Intel

2 Arizona cities in Top 10 for home price growth over last decade

Bookended by the 2008 crash and COVID-19, the decade between 2009 and 2019 was a transformative one for the real estate industry. Curious to see how the housing market had fared between the two most significant, yet wildly different economic downturns in history, we analyzed residential sales across the U.S., putting the largest urban centers in the country into sharp focus. Then, we identified homes that sold in both 2009 and 2019 to pinpoint the

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