Market Intel

Intel

Commercial and Multifamily Borrowing Sees 72% Year-Over-Year Increase in Q1

Commercial and multifamily mortgage loan originations rose 72% in the first quarter compared with a year ago but were 39% lower than the prior three months, according to the Mortgage Bankers Association. For multifamily properties specifically, the MBA’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations found that they experienced a 57% year-over-year increase in lending volumes and a 41% decrease quarter over quarter, which is typical for the first quarter. “The strong momentum in commercial

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Intel

Annual Rent Growth Sees Another Significant Jump in April

Multifamily rents aren’t seeing a slowdown yet, according to the latest Yardi Matrix Multifamily Report. The average U.S. asking rate rose $15 in April—$30 over the past two months and $50 year to date—to an all-time high of $1,659. Year-over-year growth, which moderated by 50 basis points, still remains high at 14.3%. “Although there are a few weak spots, multifamily demand and rent growth remain incredibly strong throughout the country,” stated Yardi Matrix analysts in

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Intel

How Gen Z Renters Might Reshape Multifamily

Gen Z is surpassing millennials as the largest renter cohort dominating the multifamily market, which has comprised 42% of all CRE sales since the start of the pandemic, according to a new Cushman & Wakefield and Greystone report.  The sector has been favored by strong supply-demand fundamentals, as US household formation hit 1.3 million in 2021 and is projected to hit a peak of 1.5 million in 2023. The report analysts note that the rental sector

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Intel

Scottsdale multifamily investor pivots to build 500 townhomes in Valley

After paying $42.5 million for a 240-unit apartment community in Tempe in January 2021, Nathan Reid has just sold it for $72 million. And now he’s in pivot mode, with plans to build 500 rental units throughout the Valley. The Sanctuary on Broadway in Tempe was in the low 90% occupancy range when Reid sold it to Elisa Zhang, a Washington-based syndicator and founder of EZ Real Estate, who owns more than 1,000 units across

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Intel

Multifamily Price Appreciation Outpaces Rent Growth, Analysis Shows

Real estate investors are sweet on multifamily – so much so that they have increasingly been willing to pay more for it than ever before, especially in certain circumstances. Whether that demand can continue or a bubble burst is on the horizon is the focus of a new Multifamily Trading Bulletin from Yardi Matrix, which shows multifamily price appreciation outpaced rent growth. Record-high property sales and prices were recorded in 2021. Yardi Matrix tracked $215 billion of

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Intel

As Metro Phoenix Home Prices Rise, So Does The Number Forced To Rent

Rents in Maricopa County had been steadily climbing even before the start of the pandemic in March 2020. With Metro Phoenix home prices now soaring to record levels, more people are being forced to rent houses, condos and apartments, which adds more upward pressure on rents. “There’s a certain segment of the population that’s getting priced out of homeownership, so renting is their only option,” said Scott Wilken, senior planning project manager at the Maricopa

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Intel

Recalibrating Multifamily Marketing Math

Lease attribution has confounded many apartment marketers since the internet was created. A critical aspect of digital spend and strategy, attribution is often tallied through complex calculations, assumptions, and even guesswork. And with the number of apartment listing channels growing—particularly in social media—finding a consistent and reliable method is vital. Advancements in software and technology are improving the process. Bobbi Steward, vice president of marketing at BH Management Services, defines attribution as the act of

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Intel

Crypto Just Became Real Estate’s Hottest New Thing. Here’s What That Means For Buyers, Sellers, And Developers

Adaptation from an evolutionary perspective is by nature a glacially unhurried process. It pans out even slower and more painfully when it comes to fundamental changes to the rules by which the real estate industry plays—many of which remain so outdated that they are analogously as irrelevant and inefficient as phones still attached to the wall. Which is why everyone—brokers, realtors, developers, buyers, sellers, and investors—should be paying close attention to the current crypto-real estate

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Intel

Here’s How Arizona Developers Balance Growth with Protecting Water Assets

Describing Arizona’s recent economic development hot streak as anything but banner years for the state would be — to put it mildly — a vast understatement. The Taiwan Semiconductor Manufacturing Company (TSMC) is building a $12 billion chip plant in Phoenix and its supply chain is following suit; companies in the electric vehicle (EV) business such as ElectraMeccanica and KORE Power are adding to the sector’s growing footprint in the Valley; and the Grand Canyon State continues

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Intel

More Research Shows Cap Rates Likely To Keep Compressing

Opinions are starting to pile up that commercial real estate will remain hot, prices will rise, and as a result cap rates fall.  The National Association of Realtors released an analysis that said cap rates were likely to keep compressing in 2022 despite rising interest rates.  Although typically rising interest rates would push up mortgage costs, creating downward pressure on property prices, that may not be the case, at least for now, because other factors keep pushing up

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