This is the time of year when apartment operators will make or miss 2023 budgets — peak summer leasing season.
Last year, demand didn’t heat up as much as it typically does in summer. Are we seeing a repeat in 2023, or is demand returning to normal, seasonally strong levels? And what about all those new lease-ups delivering in 2023?
Join RealPage® SVP & Chief Economist Jay Parsons and Senior Director of Research & Analysis Carl Whitaker as they review key market stats and offer their thoughts on the forecast for the second half of 2023 — and how those final months of the year will shape the 2024 outlook.
Discussion questions include:
- What does lease-up velocity look like so far, and how does that impact the existing market in terms of both occupancy and rent growth?
- What economic influences drive the nation’s apartment landscape, and how are these economic shifts influencing the investment landscape?
- What will come of the 1M+ market-rate apartment units in the pipeline?
- How are income and expense metrics shaping up as groups prepare for an interesting budgeting season?
Jay Parsons serves as Senior Vice President, Chief Economist for RealPage, leading the Economist and Industry Principal teams to provide deep insights on market trends and consumer behaviors. He is a frequent author and industry speaker on topics affecting multifamily apartments and single-family rentals, including rental housing investment and asset management strategy, rental housing policy issues, risk mitigation and property management.
Jay has been cited in The Wall Street Journal, Bloomberg, The Financial Times, The Economist, and The New York Times, and he has appeared on CNBC and BloombergTV. His commentaries have been published by Barron's, the Pension Real Estate Association, the Mortgage Bankers Association, the National Apartment Association, American Banker and GlobeSt.
Carl Whitaker
Senior Director of Research & Analysis, RealPage, Inc.Carl Whitaker is a Real Estate Economist with RealPage’s Data Analytics division. At RealPage, Carl has specialized in creating industry presentations, market and submarket trend reports and crafting ways in which data can be more easily consumed and leveraged by clients. Carl holds degrees from the University of North Texas, including a Master of Science in Applied Geography.
