Wednesday, December 18, 2024

Sunbelt

Multifamily concession offerings on the rise

Multifamily concession offerings are on the rise nationally as rent growth slows. According to Fannie Mae, almost 21 percent of multifamily units were offering concessions averaging five percent as of Q2 2024. The return...

Apartment market fundamentals stabilized in July, reports RealPage

According to data from RealPage Analytics, apartment fundamentals stabilized in July. Rent growth and occupancy remained relatively steady during the month. National occupancy was 94.2 percent for the third straight month, which...
Stricter land-use regulations force builders to spread their efforts over a large number of relatively small projects, limiting the number of homes they’re able to build. This, in turn, limits their ability to invest in better homebuilding technology or otherwise take advantage of economies of scale.

Is land-use regulation holding back construction productivity?

Ed Glaeser is perhaps the pre-eminent urban economist working today, and I’ve cited his work repeatedly when looking at land-use restrictions and burdens on new development. So I was very interested to see he’s coauthored...

Office to apartments

download pdf Hybrid work is likely here to stay. This shift isn’t just changing lifestyles—it’s also affecting commercial spaces. Office vacancy rates post-COVID shot up almost overnight, and they remain near 20 percent nationwide, the...

Apartment occupancy holds steady amid historic supply

Apartment occupancy held steady in May, marking the seventh straight month in which occupancy remained at or above 94.1 percent. Rent change fundamentals also remained steady, solidifying the idea that the nation...

High supply apartment markets ride demand wave

More than 558,000 apartment units have delivered over the past 12 months, hitting what RealPage Analytics calls a 50-year supply peak. But booming demand for rental housing has been a bright spot...

Affordability is re-emerging as a tailwind for market-rate apartments.

Affordability is re-emerging as a tailwind for market-rate apartments. One takeaway from data discussed on a RealPage podcast this week is that rent-to-income ratios have returned to pre-pandemic levels, suggesting affordability issues...
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