Multifamily Permitting Down by Almost One-Third
https://www.realpage.com/analytics/multifamily-permitting-down-july-2023/
Multifamily development slowed in July, amid an already stacked pipeline and continually rising interest rates.
Multifamily development slowed in July, amid an already stacked pipeline and continually rising interest rates.
Both Coastal and Sun Belt-focused REITs reported that 1st quarter financial and operational performance exceeded expectations.
Rents for professionally managed apartments ticked up a minor 0.3% in the year-ending January 2024, with change measured on a same-store basis, according to RealPage.
Apartment transaction volumes surged in 4th quarter, with the dollar value of trades – and the number of properties trading hands – hitting the highest level in more than 20 years, and possibly ever. Roughly 4,300 apartment properties changed hands at a value of nearly $148.9 billion during 4th quarter 2021, according to Real Capital read more
Moderate revisions to metro-level unadjusted employment data showed the pace of employment growth slowing.
Job gains remain sizable among the nation’s largest markets, though the pace of growth is slowing.
Multifamily permit volumes jumped in November, as multifamily starts declined.
While Chicago’s apartment market fundamentals tend to fall below national norms, more recent performances point to a trend reversal.
Miami is a coastal metropolis and the second-most populous city in Florida. West Palm Beach is known for its natural beauty and palm trees, while Fort Lauderdale boasts affordable...
Apartment rents declined in November 2022 for a third consecutive month. And although fall/winter cuts were very normal seasonally prior to COVID, this isn’t just normal seasonalit...