For the most part, this century’s multifamily revenue activity has moved in cycles as employment levels and new supply have fluctuated from year to year.
National multifamily revenue growth averaged 2.3% from 2000 to 2016, according to Axiometrics, with a recent low of -6.4% growth in 2009 and a recent high of 5.9% in 2006.
In the post-recovery period, the steady climb of employment growth has been the main driver of strong multifamily market fundamentals, which led to the strong levels of annual revenue growth recorded from 2010 to 2015. At that point, however, oversupply placed more pressure on rents, dropping growth down to 3.2% in 2016, reports Zelman & Associates in The Z Report.
Read more...Z Report: Revenue Growth to Continue Decelerating | Multifamily Executive Magazine
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