Market Intel

Intel

The Profile of a SFR Renter

Renter demand for single-family housing has soared during the pandemic, but the profile of a renter in this segment looks a lot different than renters in the apartment market, according to Dori Nolan, SVP of national client services at Berkadia. To start, single-family renters have a high education than renters in the apartment space. “I think that we have been able to prove that out. They are usually carrying a Bachelor’s Degree or higher of

Read More »
Intel

Record Apartment Rent Growth Pulls Back Just a Bit in August

Apartment rents on average are nearly $200 per month higher than they were a year earlier, according to a record-setting Zillow Observed Rent Index (ZORI) for August, issued this week. August’s 11.5 percent annual appreciation is the largest in Zillow records going back to 2015. Typical U.S. rents measured by the Zillow Observed Rent Index (ZORI) are $1,874, meaning a $200 YoY rent spike was within reach. Monthly rent growth had been accelerating since January,

Read More »
Intel

The EV Tech Industry Is Boosting Real Estate in Secondary Cities in the U.S.

The EV (electric/hybrid vehicle) technology industry is an increasingly powerful one in the U.S, with sales of electric vehicles growing faster than those of standard cars during the first half of 2021.. A new, massive infrastructure bill would also devote significant funds to the creation of EV charging stations, and investors are increasingly putting their money in EV exchange traded funds, or ETFs—indexes of companies creating electric, hybrid or autonomous vehicles, or the batteries these

Read More »
Intel

Single-Family Rental Market Index Slips, Is Still Near Record Highs

Even while it’s cooling, the single-family rental market remains hot. That’s the word from the John Burns Real Estate Consulting (JBREC) and The National Rental Home Council (NRHC), which released its numbers from Q2 2021, showing rent growth accelerated in 2Q21, driven by still strong demand and tight supply. The overall Single-Family Rental Market Index cooled slightly to 84 in 2Q21, down from an all-time high of 90 in 1Q21. While down sequentially, the index

Read More »
Intel

Single-Family Rentals Come of Age

Single-family homes have historically been owned by one of two groups—homeowners who lived in the houses and “mom-and-pop” investors who rented them out. For the latter group, single-family homes provided a relatively uncomplicated entry into real estate investing. These properties are typically more affordable than other multifamily assets, such as mid- or high-rise buildings, and while the tenant pays the mortgage, the “mom and pop” build equity. But when home values collapsed under loads of

Read More »
Intel

Need for rental housing explodes, but Valley cities resist: Now what?

A place to live in Greater Phoenix is becoming harder to attain. While homeowners have enjoyed a dramatic increase in the value of their investments, those in the rental market have seen a larger percentage of their paycheck eaten up by rising rental housing costs. A market report by online real estate company Zillow found that rents rose 17.7% year-over-year in the Phoenix area as of May 2021. Another Zillow study forecasts that by the

Read More »
Intel

Apartment Retention Rates Surge to Near Lockdown-Era Peaks

Apartment retention rates are soaring back to lockdown-era highs, as more renters are determining that staying in place is often the best and most affordable option – given a remarkable lack of alternatives for all types of housing and for all price points. The share of renters choosing to renew expiring leases in August 2021 surged 4 percentage points year-over-year, the largest increase on record. That brought the overall retention rate to 57.2%, just shy

Read More »
Intel

Multifamily Development Rebounds Faster Than Expected

The pandemic is the definition of a disruptor. For apartment developers, however, the pandemic’s impact was often varied between project and submarket, according to Laurie Lustig-Bower, an EVP at CBRE and an expert in apartment development. Lustig-Bower is discussing the challenges multifamily developers have faced over the last year at GlobeSt.com’s annual Apartments conference in Los Angeles, October 26-27. Over the last year, Lustig-Bower’s business activity was stable, but she did she changes trends in

Read More »
Intel

Apartment Rent Payments Fall to More Than Two-Year Low Amid Disruptions From Natural Disasters

Large landlords said only 72% of U.S. apartment rents were paid in the first six days of September, the lowest initial rent payment figure in more than two years, as natural disasters across the country contributed to delays by cash-strapped tenants and possible disruptions in data collection. The roughly 72% of renters who made full or partial payments toward their rent by Sept. 6 was the smallest percentage since at least April 2019 and down

Read More »
Intel

Multifamily Construction Moves to the Suburbs

Residential construction continued to shift toward the suburbs and lower-cost markets, and this trend is especially pronounced within the multifamily sector, according to the latest Home Building Geography Index (HBGI) released by NAHB. During Q2 2021, multifamily construction posted double-digit percentage gains in small metro core and suburban areas, while large metro areas experienced a decrease for multifamily building activity. “The trend of construction shifting from high-density metro areas to more affordable regions, which accelerated

Read More »

STAY REAL ESTATE INTELLIGENT