Market Intel

Just because more people are buying homes, that doesn’t have to hurt the outlook for investment in rental apartments, according to housing economists. The percentage of people who own their own homes rose sharply in the second and third quarters of 2020, according to U.S. Census data. Usually such a spike would mean millions of renters had moved out of their apartments and bought homes of their own. And for much of 2020, there were

Multifamily investments have outperformed almost every other commercial real estate property sector. Even in challenging economic conditions, vacancy rates are reaching all-time lows while rents continue to rise.  Although multifamily investing requires some homework, it’s more straightforward to buy multifamily buildings than other types of buildings for sale. Let’s take a look at why multifamily buildings are a growing gateway for first-time multifamily investors. What is Multifamily Property? A multifamily property is a residential building

It started before the pandemic, but the trend has only gained steam in the last 12 months. California investors are exiting the market. Regulatory challenges and low cap rates in the state are driving investors to greener pastures—namely Phoenix. “We are seeing a big migration of California investors into Phoenix. If you think about what is happening in California right now, there is really restrictive rent control, statewide lockdowns and an eviction moratorium that has

The Centers for Disease Control and Prevention (CDC) has extended the nationwide eviction moratorium through at least the end of March. “As a protective public health measure, I will extend the current order temporarily halting residential evictions until at least March 31,” said Rochelle P. Walensky, the new CDC director. “The COVID-19 pandemic has presented a historic threat to our nation’s health. It has also triggered a housing affordability crisis that disproportionately affects some communities.”

More residents in professionally managed apartments paid their rent this month than in December, but they still trail the number of renters who paid a year ago, according to new figures from a multifamily industry advocacy group. About 76.6% of apartment residents had made full or partial payments toward their January rent by the 6th of the month, according to data from the National Multifamily Housing Council, a Washington, D.C.-based group that represents 11.3 million

2020 will go down as the year COVID-19 changed everything. As the pandemic became rampant, many initially feared that multifamily rents would rapidly decline. But many metros have emerged from 2020 unscathed, and some have even enjoyed significant rent growth. Others have not been so lucky, especially expensive coastal markets, according to the latest multifamily report from Yardi® Matrix. The sector ended the year on a low note. Multifamily rents declined by 0.8% in December