ALN Monthly Market Stats August 2023 via ALN Apartment Data

ALN Data just released their July 2023 market stats on occupancy and rents for over 80 markets. In Texas, it includes DFW, Austin, Houston, San Antonio, Lubbock, Amarillo, Abilene, Corpus Christi and more. It is a must read from a great provider of apartment data.

Read more...ALN Monthly Market Stats August 2023 via ALN Apartment Data

Multifamily’s Rent Growth Slowdown Shows Signs of Leveling Off via GlobeSt

Rent growth declined to below 1% last month, only the second time since the 2010 Great Recession. And it could head down further in the next few months, according to a post by RealPage Chief Economist Jay Parsons. But he expects the rent growth slowdown to level off relatively soon. He explains:

On a month-over-month basis, asking rents have actually risen in every month this year so far, Parsons writes, noting that the year-over-year rent change is cooling quickly because 2023′s increases are so far below 2022′s.

Read more...Multifamily’s Rent Growth Slowdown Shows Signs of Leveling Off via GlobeSt

RealPage Unveils New Multifamily Rental Trends via Realpage

RealPage, a leading global provider of software and data analytics to the real estate industry, released today its findings from a national survey of multifamily renters in America during the company’s annual RealWorld 2023 customer conference in Las Vegas.  

The study found that two-thirds (66%) of multifamily renters are satisfied with their current housing situation, preferring the financial freedom afforded by being able to rent more cheaply than buy in the areas where they want to live, as well as the flexibility for remote work and trying new locations. Gen Z renters (51% in particular), feel that renting is a better option than buying.

Read more...RealPage Unveils New Multifamily Rental Trends via Realpage

How Dallas-Fort Worth became America's boomtown via Axios

Imagine San Diego, San Jose, New Orleans, Pittsburgh and Boise all rolled up into the same metropolitan area.

Zoom in: That would give you a sense of just how many people now live in the Dallas-Fort Worth area's major cities, which aside from the titular pair also include Arlington, Plano and Garland.

Read more...How Dallas-Fort Worth became America's boomtown via Axios

Yardi Matrix Boosts Multifamily Supply Forecast via Multifamily Executive Magazine

Yardi Matrix has increased its multifamily supply forecast for 2023, 2024, and 2025 as the under-construction pipeline continues to expand.

As part of its third quarter update, with starts to date this year not exhibiting any significant signs of a slowdown, it boosted its forecast completions by 6.9% to 484,943 units for 2023 and 6.5% to 506,574 units for 2024.

Read more...Yardi Matrix Boosts Multifamily Supply Forecast via Multifamily Executive Magazine

CBRE: Multifamily Market Continues to Stabilize in Q2 via Multifamily Executive Magazine

With a rebound in absorption and an uptick in vacancy, the multifamily market displayed signs of stabilization in the second quarter, according to new research from CBRE.

In the second quarter, the overall vacancy rate for multifamily increased 10 basis points (bp) from the first quarter to 5%, which is equal to its long-term average. This was less than the 30-bp rise in the first quarter and the 70-bp increase seen in the fourth quarter of 2022, meaning that supply and demand dynamics are stabilizing.

Read more...CBRE: Multifamily Market Continues to Stabilize in Q2 via Multifamily Executive Magazine