Asking Multifamily Rents Rose 15% in January via GlobeSt

Asking multifamily rents rose a staggering 15% in January nationwide to an average of $1,891, according to new research from Redfin, a jump that reflects the largest annual increase since February 2020. Rents were up 0.7% month over month and 15.2% year over year.

The national median monthly mortgage payment for buyers also climbed 25% year-over-year to $1,595. That’s also the biggest increase Redfin has noted since the firm began tracking such data. Payments are up 3% over December figures.

Read more...Asking Multifamily Rents Rose 15% in January via GlobeSt

ALN Monthly Market Stats February 2022 via ALN Apartment Data

ALN Data just released their January 2022 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 February 2022 via ALN Apartment Data

Inside Multifamily's Booming Year via GlobeSt

Last year finished with record multifamily demand, with the sector setting an annual absorption record of 617,500 units nationally.

Absorption in the fourth quarter hit nearly 150,000 units, according to CBRE, a decline from Q3 numbers but still triple the quarterly average over the last decade. The year’s absorption numbers were also up 238% from 2020 levels and up 97% over 2019 figures. It is also 58% higher than the prior record of 390,000, which was set in 2000.

Read more...Inside Multifamily's Booming Year via GlobeSt