Market Intel

Intel

AirBnB Targets Bigger Stake in Multifamily Market with Plan to Attract Large Landlords

By Katie Burke Airbnb is working with some of the multifamily industry’s largest landlords in a bid to boost listings and increase its stake in the apartment business. The San Francisco-based home-sharing company has unveiled a service that will act as a listing platform for developers including Greystar Real Estate Partners, Equity Residential and at least 10 other multifamily owners and management companies across more than 175 buildings in the United States, many of which

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Intel

Build-to-Rent Market Surging Amid Growing Purchase Turmoil

By Tony Cantu News earlier this month of a $1 billion deal between JP Morgan Chase & Co. and Haven Realty Capital to develop build-to-rent homes hit like a true sign of the times given turmoil in the purchase market. Mortgage Professional America spoke to an industry veteran for more insights into the expanding BTR market against a backdrop of growing housing unaffordability. Joseph Rubin (pictured) of EisnerAmper – one of the nation’s largest accounting,

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Intel

SFR Rent Growth Decreases But Don’t Panic

By Amy Wolff Sorter Recently released information indicates that annual rent growth for single-family homes decreased slightly. But given fundamentals, renter households won’t likely convert to homeownership any time soon. Yardi Matrix’s National Multifamily Report covering October 2022 indicated that national asking rents for single-family rentals increased by 6.6% year over year. However, the number indicated a 160 basis point decrease from September 2022. The average national SFR asking rent remained steady at $2,088. “Rents

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Intel

How Multifamily Investment Trended in 2022

By Anca Gagiuc The year 2022 has managed to surprise quite a few when it comes to multifamily investment patterns and preferences, leaving room for further interpretation. The Fed’s aggressiveness in reducing inflation has already raised short-term rates by 375 basis points through November and will likely push them up another 150-200 basis points by early next year. In a typical environment, the impact on multifamily prices and deal flow would have to be significant.

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Intel

SFR Market Trends to Watch in 2023

By Anca Gagiuc The COVID-19 pandemic is one of the decade’s—if not the century’s—main turning points in the real estate industry. It changed every property type. Retail was nearly swallowed whole by industrial by means of e-commerce, powered by warehouses and logistical centers. Offices were almost empty during lockdowns and will likely never again house as many workers because work-from-home proved so effective that it seamlessly evolved into remote working. But housing is the property

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Intel

A Confluence of Social and Economic Factors Have Driven Outsized Returns for Multifamily Investors

By Ryan Luby, Henri Torbey, and Brian Vickery CREIF apartment returns of 3.9 percent in the second quarter exceeded all sectors with the exception of industrial real estate, which saw a shift from brick-and-mortar to online shopping that has reverted back to the prepandemic trend (Exhibit 1). The apartment sector has now returned 24.4 percent over the trailing 12-month period (Exhibit 2). Appreciation accounted for 76 percent and 82 percent of apartment returns in the

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Intel

Here’s The Arizona Economic Development Forecast for 2023

By Orion Investment Real Estate As 2022 winds down, the Arizona economic development sector has much to celebrate in the way of wins. According to the Arizona Commerce Authority (ACA), the state ranked No. 3 for economic outlook — a 10-spot jump from No. 13 the prior year. With manufacturing and semiconductor development scores such as Kohler, KORE Power, Lucid, Intel and Taiwan Semiconductor Manufacturing Company (to name a few) as well as tremendous traction

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Intel

Arizona No. 5 Best State for Hiring as Crisis Worsens

By Orion Investment Real Estate A new study found Arizona is the No. 5 best state for hiring as the unprecedented hiring crisis worsens. CareerCloud today released a study on the Best States to Hire Workers using data from the Census Bureau, BLS, Tax Foundation, and the St. Louis Fed. The rankings were determined by analyzing five factors: business tax policies, population increases, adults with bachelor’s degrees, diversity, and job openings to compete against. Arizona ranked No. 23 in its business tax policies, No.

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Intel

Housing Affordability Taking a ‘Nosedive This Year’

Paul Bergeron A homebuyer must earn $107,281 to afford the $2,682 monthly mortgage payment on the typical U.S. home, up 45.6% from $73,668 a year ago, according to a recent Redfin report. Housing affordability took a “nosedive this year,” reaching all-time lows, according to Crystal Sunbury, real estate and construction senior analyst with RSM US. Mortgage rates, which climbed steeply in recent months, eased as a result of inflation cooling more than expected in October,

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Intel

Multifamily Rent Growth Up Slightly in October

Leah Draffen Average multifamily asking rents growth showed a minor increase in October, according to the latest Yardi Matrix Multifamily Report. The average U.S. asking rate was $1,727. Year-over-year rent growth was down to 8.2%, the lowest level since summer 2021 and from its 15.3% peak in the first quarter. “The inevitable economic slowdown raises questions about when the impact will start to be felt and how much the sector will be affected,” stated the

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