Apartment Business Update
A quarterly newsletter covering investment trends in the apartment industry.
Sun Belt Markets Among Best for New Apartments
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The number of new apartments opened in the past 10 years was analyzed by RentCafe based on unit size, occupancy rate and neighborhood quality. Many of the top 50 cities to find a new apartment were in the Sun Belt—Texas had 12 cities in the top 50, while Florida had seven.Boca Raton, Fla., was the…
Newmark Announces Single-Family Rental Group
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Newmark is joining the single-family rental (SFR) space. The company announced its SFR group in late 2022; it will be led by Vice Chairmen Chad Lavender and Ryan Maconachy and be part of the Multifamily Capital Markets group.“With Newmark’s significant presence in the multifamily and alternative…
2022's Rental Housing Trends
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While rent growth cooled during 2022, it’s still slightly above what was seen prior to the pandemic. This is one trend reviewed by Apartment List in its 2022 Rental Rewind. The analysis tracked three national trends, three regional trends and three outlooks for 2023.Rent growth, as of November 2022…
Rents See Largest Decline in 7 Years
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Asking rents are down 0.4% from October to November, resulting in the largest monthly decline in the seven-year history of Zillow’s Observed Rent Index. While November is historically the slowest month recorded in the index, declines had not reached 0.1% during this time of the year pre-pandemic.…
Miami Most Competitive Rental Market
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Residents are staying in place this year as the market heats up. RentCafe analyzed the most competitive markets in the U.S. based on five factors—number of days an apartment was vacant; percentage of occupied rentals; competition between prospective residents; percentage of residents who renew…
NAA Debuts Podcast
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From leadership to operational strategy to federal advocacy and more, The NAA Apartmentcast features insight and trendspotting from rental housing industry leaders. The inaugural episode features inside-the-beltway wisdom from NAA SVP of Government Affairs Greg Brown, as well as a preview of the…
2023 Apartment Housing Outlook
By Paula Munger | | Updated
The final jobs report of the year confirmed the strength of the labor market in the face of a cumulative 375-basis point interest rate increase. Unemployment rates remained near 50-year lows and initial claims for unemployment were at levels consistent with a tight labor market. Although jobs were…
Bend but Don’t Break Defense Weathers Economic Uncertainty: Part 3
By Michael Miller | | Updated
Technologies ebb and flow—think cassette tapes to CDs to streaming services or Myspace to Facebook—with the times, which is exactly what the entire industry has done during the pandemic but not entirely as a result of the pandemic.Some tech and other items like self-guided tours were around before…
Bend but Don’t Break Defense Weathers Economic Uncertainty: Part 2
By Michael Miller | | Updated
Multifamily starts declined 4% in October, according to Dodge Data & Analytics. Despite the drop, multifamily starts are ahead of single-family starts 26% to 10%, respectively, during the first 10 months of 2022 compared to the same period in 2021.Meanwhile, the National Association of Home…
Bend but Don’t Break Defense Weathers Economic Uncertainty: Part 1
By Michael Miller | | Updated
The rental housing industry has gracefully adapted and evolved during the current economic climate and global atmosphere. Nearly three years ago, the world came to a halt, causing many, not just multifamily businesses and professionals, to re-imagine their lives through a different lens. This wave…