Market Intel

There is still a huge amount of uncertainty about the future of the outbreak and the economic impacts associated with it. The baseline forecast assumes that the current surge in the spread of the coronavirus is contained quickly and that there is no major resurgence in the fall. The forecast assumes that the executive order affecting activity at bars, indoor gyms, indoor movie theaters, and other activities, has expired. Keep in mind that the projections

A robust pipeline of new apartments planned prior to the COVID-19 pandemic has continued to deliver projects throughout 2020. To attract tenants to properties at a time when many Americans are facing economic uncertainty and others are considering whether to leave cities and move to the suburbs, owners are now offering generous concessions, including months of free rent. “In the urban core, some of the concessions are scary,” says Ryan Davis, chief operating officer for

It is no secret that high-end, four-and five-star apartment buildings in urban areas have struggled to maintain rents, and in some cases struggled to retain residents, since the onset of the coronavirus pandemic. Rents at these Class A properties nationwide are down about 1.9% since March 1 and year-over-year rent growth is negative 1.7%. These properties compete directly with the hundreds of thousands of units that have been completed over the past year, forcing many

For 10 years, the multifamily sector has enjoyed consistent growth. Often heralded as the “smart investment” of the real estate industry, research cited by CBRE in 2018 reveals that when compared with hotel, industrial, office, and retail spaces, multifamily has the highest average annual return while simultaneously holding the second-lowest volatility. So, when a global pandemic strikes—destabilizing the economy, incapacitating much of the workforce, and lessening disposable income—what happens to the jewel of the real

Rental concessions are nearly twice as common as they were in February as the market has softened since the COVID-19 pandemic began, according to Zillow. The share of Zillow rental listings that advertises a concession—such as free months’ rent or parking, a gift card, or a waived deposit fee has increased from 16.2% in February to 30.4% in July. In July 2019, only 12.5% of rental listings advertised concessions. Of the six types of concessions

Arizona is one of the top states in the nation for home price appreciation according to the recent Federal Housing Finance Agency House Price Index data release. The change in house prices between the second quarters of 2019 and 2020 was 5.4 percent in the nation, with Idaho home prices rising the highest at 10.8 percent followed by Arizona home prices at 9.1 percent. All 50 states and the District of Columbia had positive one-year changes