Series: Market Update
Up Close and Local: Newark Market Update
Apartment construction in Northern New Jersey continues to accelerate, with 2021’s delivery volume set to hit a multi-decade high. Most of the run-up is concentrated in submarkets that offer easy commutes to Manhattan. The additions, which are more affordable than their Manhattan counterparts, could prove popular over the long term, assuming the relationship between people work and where they live remains loosened in a post-pandemic world. For the short term, however, digestion of all this new product could be challenging.
Join RealPage analysts for an examination of what’s shaping the apartment sector performance in Newark-Jersey City and what’s likely to happen over the near term.
Discussion topics include:
- Newark-Jersey City’s role in the regional and national marketplace
- Occupancy and rent growth levels
- Trends across the spectrum of Class A, B and C properties
- Neighborhood-level performance variation
- Investor interest in the local apartment base
Greg facilitates the alignment of the firm’s technology and analytics solutions with rental housing sector needs and opportunities. He is well versed on rental housing market fundamentals and activity nationally, by metro and in individual neighborhoods. Greg is active in industry organizations such as the National Multifamily Housing Council, the Urban Land Institute and the National Apartment Association. He provides commentary for national and local business media.
Arben SkivjaniEconomist & Data Scientist, RealPage, Inc.
Arben Skivjani is an Economist and Data Scientist for RealPage, Inc. His primary focus is on forecasting and modeling, economic impact studies, reporting and analysis of macroeconomic indicators that affect the multifamily industry. Prior to joining RealPage, Arben worked for several government and private sector entities, including the District of Columbia Department of Employment Services, Center for Business and Economic Development at the University of Alabama and Camoin Associates in Upstate New York. As a native of Kosovo, Arben worked on several projects for the United Nations World Health Organization and the European Agency for Reconstruction in Southeastern Europe.
Arben is an active member the Dallas/Fort Worth Association for Business Economics and the National Association for Business Economics and served as a vice president and board member Alabama Economics Club.
Arben graduated with a bachelor’s degree in business administration from Auburn University at Montgomery and a master’s degree in economics from The University of Alabama.