Economy

July 11, 2022
Controlling Higher Multifamily Costs

Controlling Higher Multifamily Costs

With costs rising everywhere, controlling the costs for your multifamily portfolio is more important than ever. From labor costs to building supplies to utilities, costs are increasing and having a major impact on the bottom line. Navigating the rise in operating expenses is critical for owners, developers and property managers. Building Materials Building materials have been greatly impacted by supply chain issues, helping fuel the increase in operating costs. According to the National Association of […]
April 17, 2022
Multifamily Market Strong But Slowing

Multifamily Market Strong But Slowing

The national multifamily market remails strong but is showing signs of slowing according to the latest Yardi Matrix report. Although rent growth remained positive in March, its rate of growth is decelerating after the extraordinary rate of 2021. Most of the rent growth for 2021 started in the second quarter, meaning that going forward the year-over-year growth will likely be reduced although apartment rents will continue their trajectory. Household Growth Moderates Although the numbers are […]
March 5, 2022
Employment Up in February 2022

Employment Up in February 2022

The employment data for February revealed that hiring rebounded in February after a slow start to the year. According to the BLS, employers added 378,000 new jobs in February, driving the unemployment rate down to 3.8%. These gains were higher than the 440,000new jobs predicted by economists. The job gains were widely distributed across industries, with healthcare and hospitality leading the way. In a positive sign for the real estate industry, the construction industry added […]
January 17, 2022
Multifamily Market Remains Strong

Multifamily Market Remains Strong

As we start 2022, the multifamily real estate market remains strong. In 2021, the market saw unprecedented growth in rental rates and also in investor demand. Market research from Apartment List showed that rental rates increased 17.8% in 2021, a record shattering rate of growth. Investors were bullish on multifamily properties, due to the sector’s resilience when compared with other types of commercial real estate. Although these trends are likely to continue in 2022, they […]
November 4, 2021
Apartment Rent Surge Slows

Apartment Rent Surge Slows

Throughout most of 2021, apartment leasing and rents surged as pent-up demand caused by the pandemic exploded onto the market. However, the rental rate growth has slowed considerably, signaling that the market may have stabilized. The national rent index from Apartment List showed rent growth of 0.8% from September to October. This was the slowest rate of growth since February 2021. In any other year, a growth rate of 0.8% is a typical rate for […]
September 30, 2021
Emergency Rental Assistance Payments Are Getting Out

Emergency Rental Assistance Payments Are Getting Out

$2.3 billion in Emergency Rental Assistance payments were made to households throughout the US in August. These payments were sent to 420,000 households, a significant increase from July.
June 10, 2021
Distortions in Construction Industry Jobs

Distortions in Construction Industry Jobs

Employment in the construction industry is being distorted by both the pandemic and long-term causes. Both commercial real estate and residential construction are seeing an increased demand for workers while also losing jobs.