With an incredible volume of supply delivering in 2024, is a “Survive ‘til 25” approach realistic? Can continued economic growth and improving consumer sentiment support continued demand or will external forces curb demand amidst growing inventory? And what will all this mean for 2024 apartment fundamentals and capital markets?
Join RealPage experts Jay Parsons & Carl Whitaker as they kick off the New Year with a timely, data-filled discussion on the apartment market outlook for 2024, covering topics such as:
- Why 2023 apartment demand rebounding to normalized levels was overshadowed by a supply-driven rent growth slowdown.
- Will renewal propensity remain strong with new completions jumping to 40-year highs?
- How the growing importance of maintaining residents can offset turnover cost-pressures and counteract a multi-decade supply peak.
- Why the appetite from both investors and developers remains robust despite the interest rate obstacles to high investment volumes.
The near-term outlook may be murky, but an analysis of supply/demand fundamentals shows the market may be in decent shape heading into the spring. Come see what the future of the apartment market holds and how it could affect your company’s performance in 2024.
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.
