Market Intel

Intel

Renting and Buying Are Less Affordable Than Ever

Nearly all of the 50 biggest metro areas in the US have become less affordable for renters and prospective first-time homebuyers over the last two decades, with the percentage of income devoted to rental payments rising sharply in most regions.  A new report from the Mortgage Bankers Association’s Research Institute for Housing America shows that annual median rent growth rose at 2% above inflation, whereas annual median income rose 0.8%, leading to a typical household

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Intel

Arizona No. 3 among states for increasing rent

QuoteWizard, a LendingTree company, and one of the nation’s leading online insurance marketplaces released a new report finding that the ongoing  COVID-19 pandemic has had a significant impact on the cost of rent nationwide. Arizona ranked No. 3 among states for increasing rent, according to the report. Our team of analysts found the average cost of a 1-bedroom apartment has dropped in 15 states. California, New York, Illinois and Washington state have all experienced price drops that

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Intel

Phoenix Lost Over 33,000 Jobs in January, but Recent Announcements Are a Bright Spot

Greater Phoenix lost about 33,100 jobs in January, according to the latest employment report from the Bureau of Labor Statistics, virtually undoing the gains the market accrued in November and December. Job losses in January follow typical seasonality patterns; temporary hires during the holiday shopping season were let go in January. January marked the first month of job losses since July. Monthly job cuts were most significant in the trade, transportation and utility sector (-16,800

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Intel

Navigating the Post-COVID-19 Multifamily Housing Market

According to Emerging Trends in Real Estate 2021, a new report from the Urban Land Institute and PwC US based on their survey of more than 1,600 leading real estate industry experts, the COVID-19 pandemic did not necessarily generate new trends in the multifamily housing market, but sharply accelerated trends that were already underway. Migration and appeal of suburban locations, preferences for floor plans that support work-from-home options, and integrated outdoor social and recreational areas

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Intel

Why Investing in Opportunity Zones Goes Beyond a Tax Break

The benefits of investing in Opportunity Zones (OZs) are many. Investors benefit by having capital gains tax obligations deferred, taxes reduced, and competitive investment returns, while stakeholders in distressed communities benefit from investments of capital which create jobs, improved access to services and affordable housing. The Tax Cuts and Jobs Act of 2017 created a new federal incentive for OZs meant to spur investment in undercapitalized communities. Any corporation or individual with capital gains can

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Tempe town lake skyline
Intel

Arizona’s 5 most trending cities for young renters

The downtown life in big coastal cities is so last decade. That’s according to the latest data that shows small towns in the heartland are newly trending cities for Gen Z renters. This is especially noteworthy because Zoomers were the fastest-growing active renter segment in the U.S. last year, and their locations of choice are just the opposite of their Millennial predecessors. According to the most recent national apartment application data, the share of Gen Z

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Intel

Top 10 commercial real estate markets for 2021 include Phoenix, Tucson

The National Association of Realtors identified the top 10 commercial real estate markets for 2021. In alphabetical order, the markets are: • Austin-Round Rock, Texas • Cape Coral-Fort Myers, Florida • Charleston-North Charleston, South Carolina • Las Vegas- Henderson-Paradise, Nevada • Nashville-Davidson-Murfreesboro-Franklin, Tennessee • Phoenix-Mesa-Scottsdale, Arizona • Raleigh, North Carolina • Salt Lake City, Utah • Seattle-Tacoma-Bellevue, Washington • Tucson, Arizona READ ALSO: 5 hottest real estate markets in Arizona “The top commercial real estate

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Intel

The Suburbs’ Big Moment May Have Passed

Since the early days of the pandemic there has been talk about companies favoring suburban investments over urban ones and shifting their workplace strategies to the suburbs in a hub-and-spoke model. At least one survey from Seyfarth suggests that this strategy may be coursing in a new direction.  In the survey, Seyfarth asks respondents if their companies will shift their investment sights to suburban markets and relocate all or part of their workforce to other

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Intel

Here are the Multifamily Markets With the Strongest Tailwinds

Cities across the Sunbelt and Mountain West are experiencing the strongest tailwinds in the multifamily sector, as fewer job losses and fast-growing populations drive demand for quality rental products.  A new report summarizing the multifamily investment forecast from Marcus & Millichap cites Atlanta, Austin, Charlotte, Dallas-Fort Worth, Denver, Nashville, Phoenix, Raleigh, and Salt Lake City as the top markets benefiting from what it calls “in-migration momentum.” Similarly, cities showing “demographic tailwind” rank a notch behind

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Intel

Where the Apartment Market Stands One Year After COVID

COVID-19 became a real thing for lots of people on March 11, 2020.  Over the past year, many of us at RealPage have referred to the date as Tom Hanks Day, since it’s when America’s Dad shared that he and wife Rita Wilson had contracted the virus. It’s also when the NBA shut down pro basketball play and when the World Health Organization first classified what was happening as a global pandemic. As with so

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