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Intel

Apartment Demand Hits Record High In Q2

Demand for apartments has officially hit unprecedented levels, according to new data from RealPage, with Dallas-Fort Worth leading the way among individual cities  The number of occupied apartments in the 150 biggest US metros increased by 219,909 units in the second quarter, the largest quarterly increase since RealPage began monitoring that figure in the early 1990s. In contrast, demand for apartments in the first quarter of 2020 was a mere 33,000 units. Apartment demand has

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Intel

What’s Driving the Acceleration of SFR, BFR?

A new report from the ULI Terwilliger Center and RCLCO Real Estate Consulting examines the evolution of the single-family rental and build-for-rent segments of the housing industry, which have grown exponentially during the COVID-19 crisis. According to the report, the single-family rental market is helping communities better meet the changing demands of moderate-income households by offering more housing alternatives. “What’s happening now is substantial. It is going to be a part of the market long

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Intel

Phoenix reaches highest echelon on 2021 America’s Best Cities list

The Phoenix metro has been rising steadily in recent years on Resonance Consultancy’s lists of top cities, and this year it landed in the top 10. The Valley is ranked No. 9 on Resonance’s 2021 America’s Best Cities Report, a four-point jump from its 2020 ranking of No. 13 on the 100-city list of metros with more than 500,000 residents. It’s also higher than Phoenix’s position as the 16th highest ranking American city on the

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Intel

May Sees Record Apartment Rent Increase

May 2021’s rent increase of 0.88% compared to April was the largest month-to-month average jump since Yardi Matrix started collecting rent data. That all-time high comes after April posted the third-highest increase recorded. While the next couple of months should continue to post strong numbers, Yardi expects seasonal pressures to weigh on growth by the end of the year. Still, many metros could see new all-time rent growth highs in 2021. Ultimately, many of those

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Intel

Multifamily Industry Sees Surge of Liquidity

Lenders say they are seeing no shortage of debt capital available to finance multifamily properties today, which should continue through the remainder of 2021. James Flynn, CEO of Lument, says it’s difficult to find any fault with lending conditions year to date, with the first four months of 2021 continuing the solid performance seen in the fourth quarter. “Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA) are providing liquidity to all market segments,

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Intel

Opportunity Index ranks Phoenix 4th among real estate markets

According to The Newmark Opportunity Index: Identifying Commercial Real Estate Opportunities and Challenges in Major U.S. Markets, a new white paper released recently by Newmark, Phoenix is one of the five hottest national real estate markets. The index assesses and ranks various geographic markets through property-specific metrics, providing insights on how to gauge potential opportunities and challenges among various asset classes poised for growth in these areas. When compared to other national markets, the report

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Intel

Phoenix apartment rent growth surges 15.7% in one year

Phoenix has consistently been a top national performer for apartment rent growth in recent years, but local performance has now surged to a whole different level. It’s hard to overstate just how phenomenally the Phoenix apartment market has been performing of late. Effective asking rents in Phoenix grew a stunning 15.7% year-over-year as of May, easily the market’s best performance in at least two decades, and a rate that notably overshadowed the national average of

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Intel

CoStar reports steady rise in multifamily property prices

A recent report from CoStar indicates that the remarkably steady rise in multifamily property prices that has taken place over the last two years continued in May. CCRSI defined The CoStar report focuses on a relative measure of property prices called the CoStar Commercial Repeat Sales Index (CCRSI). The index is computed based on the resale of properties whose earlier sales prices and sales dates are known. The index represents the relative change in the

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Intel

Renters and Buyers Alike Are Demanding More Space

Demand for more space has increased dramatically among both homebuyers and renters, underscoring the extent to which consumer preferences and priorities have changed as a result of the pandemic.  New second-quarter data from the American Institute of Architects shows that homeowner interest in larger homes has ticked up over the last 12 months, a change that’s correlated with a sharp increase in demand for accessory dwelling units. Homeowners are also increasingly looking to build out

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Intel

‘Everyone’s Rushing In’: Global Investment Firms Expand US Apartment Buying Surge

A pair of global investment firms plan to focus on buying multifamily properties across the United States as larger, institutional players beef up their buying capabilities in a surging apartment market. Kennedy Wilson, an investment company based in Beverly Hills, California, is launching with an undisclosed institutional investor a $1.5 billion multifamily investment platform. The joint venture was announced hours before Ivanhoé Cambridge, a Canadian firm that invests in commercial real estate around the world,

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