Despite being handed out like candy in 2020, multifamily concessions are now on the decline, according to new research from Yardi Matrix.
Concessions hit their peak over the summer but decreased in the fourth quarter, owing in part to job market gains and an increase in consumer sentiment as the economy reopened and COVID-19 vaccines began their rollouts. That optimism has boosted demand, according to Yardi. And generally, multifamily demand has shifted from more expensive properties and metro areas to cheaper areas.
Read more...Multifamily Concessions To Keep Falling in 2021 via GlobeSt