Market Intel

Intel

Homeownership Trends Having Little Effect on Multifamily Investment

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

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Intel

Why Multifamily is a Gateway for First Time CRE Investors

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

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CRE Sentiment Is On The Upswing

Overall sentiment across the commercial real estate market is increasing as 2020 becomes a bad memory, with confidence sharply rebounding from historic lows recorded in the middle part of last year. The latest RCLCO Current Real Estate Market Sentiment Index has increased 22.4 points over the past six months, with respondents predicting that conditions will improve “significantly” over the next 12 months.  Concern about the state of the economy and CRE markets was previously measured

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Forget City v. Suburbs. It’s All About the Sun Belt and Mountain West

Demand for office space all but dried up in 2020 due to COVID-19, as companies adopted flexible work-from-home policies en masse.  And while hard data about the future of the sector remains elusive – as most tenants have chosen to delay making decisions about office re-entry until at least the middle of this year – it’s clear that many companies intend to make distributed work a more permanent reality, whether through hub-and-spoke or hybrid models. 

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Intel

Why Investors Are Exiting California in Favor of Phoenix

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

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Intel

Eviction Moratorium Extended Through End of March

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.”

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These are the five hottest – and three coldest – markets for home prices in 2021

The coronavirus pandemic has changed not only how we live but where we live, and that has upended some of the usual trends in local housing markets. Now that some people can work from anywhere, they can also live anywhere, and they are moving to different markets for all kinds of reasons, from affordability to climate to ease of everyday life.   According to a new report by Zillow, these are the hottest markets for

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Industrial, Apartments Drive December Price Gains

US commercial property prices grew 7.3% year-over-year in December, according to the latest RCA CPPI: US summary report. But if you dig a little deeper, you’ll see that apartment and industrial drove the gains. The industrial sector, which posted the largest annual increase of any property type, grew 0.6% in December and rose 8.8% year-over-year. The pace of growth in the sector declined modestly from previous months. Prices increased 0.9% for apartments in December, while

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Intel

More Apartment Dwellers Paid January Rent Than in Prior Month, Latest Figures Show

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

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Intel

Multifamily rents drop as pandemic impact persists

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

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