2020 Apartment Market Updates on Tap
To keep multifamily decision-makers informed of changing conditions, RealPage Analytics kicked off its most aggressive series of market updates for 2020.
Multifamily industry analysts maintain that the current cycle still has legs, but the longer it goes the more it warrants watching.
Along with analysts at RealPage Analytics, RealPage Chief Economist Greg Willett believes the national outlook for the near term has occupancy hovering at 95 percent and rent growth slightly down to 2-2.5 percent. No doubt, some markets will outperform others.
To keep multifamily decision-makers informed of changing conditions, RealPage Analytics kicked off its most aggressive series of market updates for the first quarter of 2020 in mid-January. Among the first installments of a weekly series of webcasts is a look at the U.S. apartment landscape in “2020 U.S. Apartment Market Outlook.” The following are in-depth discussions on 10 markets, plus the national student housing picture.
Willett, along with RealPage analyst Adam Couch, lead the weekly series. They will provide market demand influences and key metrics down to the neighborhood level, while identifying cities and metros that are gaining traction and others that are spinning their wheels.
Willett is recognized in the rental housing industry for his insights on local and national housing market fundamentals. He’s active in the National Multifamily Housing Council, Urban Land Institute and National Apartment Association.
Here’s the lineup, including previously recorded webcasts:
2020 U.S. Apartment Outlook
After a decade of expansion in the U.S. apartment market, can performance momentum be sustained? Demand at two-decade highs in many locations drove U.S. apartment occupancy sky-high in 2019. However, economic expansion now is cooling at the same time that new apartment completions are becoming plentiful. Willett and Couch discuss apartment construction trends, expectations for the economy and apartment demand, occupancy and rent growth outlooks, as well as those metros that are bound to shine in 2020.
Up Close and Local: St. Louis Market Update
St. Louis ranked as one of the most improved performers in occupancy and rent growth while exceeding expectations. The metro’s performance generated a lot of buzz but leaves the question of whether St. Louis’ strong fundamentals make it a more attractive value-add investment in the near term, and if the momentum justifies more significant construction looking ahead. Willett and Couch explore how the local economy and other demand influences are shaping leasing and what properties are performing at the highest levels.
Up Close and Local: Boston Market Update
In Boston, increased deliveries during recent years have allowed apartment demand to reach high levels in this usually product-starved market. However, additional properties still on the way could make it tough to maintain today’s performance momentum, especially if job production slows. RealPage Analytics will explore key apartment sector metrics in Boston and the metro’s near-term outlook, including occupancy and rent growth levels, property sales and pricing and construction activity concentrations by neighborhood.
Up Close and Local: Bay Area Market Update
Apartment rents in Bay Area metropolitan areas San Francisco, Oakland and San Jose are among the priciest in the nation but increased deliveries slowed rent growth in 2019. A wealth of new product is on the way, which may affect pricing trends in 2020. Also, California’s expanded rent control legislation may or may not affect the near-term performance prospects and long-term investment appeal. This webcast will provide valuable insights into current occupancy and rent growth trends; near-term demand through examining job growth, income growth and homeownership rate; ongoing construction and near-term delivery; and other economic or seasonal factors that impact the market.
Feb. 4, 2020, 1 p.m. CST. Register now.
Up Close and Local: Austin Market Update
Austin’s job base has expanded faster than any other large market in the nation during the current economic cycle. Since early 2010, Texas’ capitol city has added nearly 318,000 jobs, a whopping increase of 41.2 percent. With increased demand, Austin enjoyed 4.1 percent rent growth through the third quarter of 2019. Willett and Couch will recap 2019 occupancy and rent growth trends as well as look at how new deliveries will impact key apartment metrics.
Feb. 11, 2020, 1 p.m. CST. Register now.
Up Close and Local: Phoenix Market Update
Phoenix has ranked among the country’s rent growth leaders of late, despite considerable volumes of new supply coming into the marketplace. Join RealPage experts for an examination of whether the metro can stay at the top of the national charts during 2020. The discussion will focus on Phoenix’s economy, the condition of the for-sale housing market, apartment property sales volumes and pricing velocity, and performance stand-outs at the neighborhood level.
Feb. 18, 2020, 1 p.m. CST. Register now.
Up Close and Local: South Carolina’s Hot Spots Market Update
Charleston and Greenville stand out among the nation’s small apartment markets with their ability to consume new products while maintaining healthy occupancy and rent growth. Willett and Couch will discuss whether this momentum can continue and what impact new supply in these metros may bring. Key apartment performance metrics among South Carolina’s apartment sector stars will be examined, as well as apartment demand influences in each area. In addition, Willett and Couch will pinpoint performance stand-outs on the neighborhood level and discuss occupancy and rent growth by product class.
Feb. 25, 2020, 1 p.m. CST. Register now.
Up Close and Local: Denver Market Update
Denver is rising high. The Mile High City ranks among the best in the nation in total rent growth performance, but recent pricing power has decreased with levels more in line while continued aggressive building challenges sustainable momentum in the near term. The mix threatens to shift Denver’s market performance. RealPage experts will dive into Denver’s unique market situation and analyze the market’s economy and other apartment demand influences. Get a look at building volumes down to the neighborhood level, as well as discover the latest in apartment occupancy and rent growth by product class.
March 3, 2020, 1 p.m. CST. Register now.
Up Close and Local: Orlando Market Update
Impressive population growth and job production have spurred strong demand for apartments in metro Orlando throughout recent years. In turn, occupancy and rent growth have remained solid, despite substantial building activity. The big question is, will completions that look to continue on an upward trajectory in the near term derail that overall performance momentum? At the heart of this discussion are construction patterns across the metro, property sales and pricing and occupancy and rent growth levels.
March 10, 2020, 1 p.m. CST. Register now.
Up Close and Local: Raleigh/Durham Market Update
Raleigh/Durham’s apartment inventory growth rate during the current economic cycle has been among the most aggressive across the country. Even with that big supply, the metro still has managed to maintain healthy occupancy and solid rent growth. Willett and Coach will discuss if the growth can continue in the face of even more product deliveries. Topics for discussion include the metro’s economy and other apartment demand drivers; performance levels across the spectrum of Class A, B and C properties; and what properties are standing out in neighborhoods across the metro area.
March 17, 2020, 1 p.m. CST. Register now.
Up Close and Local: Dallas/Fort Worth Market Update
North Texas continues to lead the country in new apartment construction by a huge margin. Since the area also ranks as the nation’s No. 1 demand center, aggressive building hasn’t derailed occupancy, and rent growth is on solid ground. Investor interest has remained strong of late, with yield still looking good relative to levels seen in the coastal gateway metros. Willett and Couch will focus on DFW’s key apartment performance metrics and the region’s near-term outlook. One area of discussion will center on momentum across the urban core, high-end suburbs, and neighborhoods with more moderate pricing. North Texas renter characteristics will also be examined.
March 24, 2020, 1 p.m. CST. Register now.
Up Close and Local: Student Housing Market Update
At student housing developments across the country, pre-leasing for the Fall 2020 semester is in full swing. So how does the competitive landscape look at this point? Willett and Couch identify those campuses that are dealing with sizable blocks of new supply and others that are taking a break from new deliveries. Mix in influences on-demand that are coming to the forefront and the student housing market will be the basis for a lively conversation. Learn about new supply shifts by campus, enrollment change leaders and laggard and what pre-leasing and pricing distribution across individual schools look like.
March 31, 2020, 1 p.m. CST. Register now.
Visit the RealPage Webcasts site periodically to see our lineup and register as webcasts become available.