Market Intel

Intel

Scottsdale tops all U.S. cities with more people moving in during COVID-19

HireAHelper, the online marketplace for finding, comparing and booking moving transportation and services, today released results from a new study examining U.S. moving trends and Scottsdale wins the popularity contest. This study is a unique and nuanced view of more than 25,000 moves booked in 2020 to identify exactly where people were migrating during the COVID-19 pandemic. How Was It Made? HireAHelper examined the origin, destination and distance of each moving job since the official

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Post-Pandemic Apartment Design

The global pandemic has shifted our perception of home. As the places we live have also become the places we work and play, there is an increased emphasis on the need for functional, flexible spaces that reflect our new reality. The advent of the pandemic is accelerating the rate at which change is happening in multifamily design, particularly as it relates to work-from-home space, the amenity mix and outdoor gathering areas.  Today’s luxury apartment seekers

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Intel

How Will the Pandemic Impact Future Apartments?

While millions of multifamily residents sheltered in place for months during the nation’s COVID-19-imposed shutdown, apartments became makeshift offices, classrooms, gyms and hospital rooms. Now, architects, developers and property owners say there will be permanent changes in how future multifamily spaces are designed. Many residents are returning to their offices and businesses. Others will continue to work from home at least part time, but possibly on a permanent basis. As a result, being able to

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COVID-19’s Impact on Multifamily and Affordable Housing

We are experiencing two crises at once—healthcare and housing. How can we expect people to comply with stay-at-home orders when they have no place to call home? COVID-19 has heightened the inequality of the housing market, a crisis that this country will continue to experience even after the pandemic is over. Millions lack access to safe, stable affordable housing. The United States needs more than 7 million additional affordable housing units to meet the current

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Intel

Four Key Takeaways The Multifamily Industry Learned From The Pandemic

Since March, the economic impact of Covid-19 has continued to unfold globally. The rapid pace at which the pandemic has spread and global actions to curtail it are having unprecedented repercussions on the way we live and do business. While I believe the long-term influence and outcomes of these events will have a unique effect on the multifamily industry, the most important lesson learned is the need to be resilient. Here are four trends we

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Multifamily Held Stable in Q2 But ‘Cracks Are Appearing’ for Fundamentals

Apartment vacancy rates and rents for the second quarter held “remarkably stable” amid the economic distress from the pandemic–but “cracks are indeed appearing and spreading quickly” for multifamily fundamentals, according to a new report from Moody’s Analytic’s REIS subsidiary. National apartment vacancy rates for the quarter were unchanged at a “relatively tight” 4.8%, the report said. But effective rents nationally declined by 0.4%, which, significantly, was the first decline since the multifamily sector started its

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COVID-19 Creates Housing Boom

COVID-19 continues to stir the home real estate market and upset the plans of homeowners. Despite the uncertainty in the overall economy, though, demand for homes is remarkably strong. “Somewhat counterintuitively, the coronavirus-driven recession is propping up the housing market,” said Daryl Fairweather, chief economist for real estate brokerage company Redfin. “Homebuyer demand is surging despite GDP taking a historic nosedive in the second quarter, largely because Americans value the home more than ever and

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Cautiously Confident, Multifamily Waits for Election

Berkadia’s 2020 Mid-Year Powerhouse Poll finds that the initial concerns about the COVID-19 pandemic’s impact on multifamily real estate have not been realized, and Berkadia mortgage bankers and investment sales experts agree that while activity may not return to “normal” until 2021, opportunities still exist in the current climate. The proprietary poll was conducted in early July and collected insights from nearly 150 Berkadia investment sales brokers and mortgage bankers across 60 offices.  Despite early

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Intel

How to Manage Multifamily Assets When Residents No Longer Leave

Life under COVID-19 means people are now at home most of the time. And while this is better for public health, since it helps slow the spread of the virus, it introduces new challenges for multifamily owners and operators. With millions of Americans working and learning from home, properties that used to have residents on site only part of the day now have them around nearly all of the time. This is putting added strain on

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Renters Are Increasingly Choosing Suburban Living Over Urban Areas

An online real estate database company just released new figures showing that renters’ preferred location is tiling toward the suburbs. Zillow attributed the new data to the impact of the coronavirus because of the spike in unemployment. Zillow reasoned that renters were hit more severely by the economic effects of the coronavirus than homeowners Instead of shelling out their savings on an apartment, for instance, millions of people who previously rented have chosen to move

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