Yardi Matrix, Santa Barbara, Calif., found multifamily advertised rents rose for the sixth straight month in July as demand from economic growth and demographics remained solid. The average rent increased $4 to $1,743, or 0.2% month-over-month, and is up by 0.8% year-over-year.
Tag: Multifamily
Yardi Matrix Anticipates Minimal Rent Growth for Second Half of Year
Yardi Matrix, Santa Barbara, Calif., released its U.S. Multifamily Outlook for Summer 2024, finding that while multifamily performance continues to be strong, rent growth is likely to remain slow through the rest of the year.
Dealmaker: Greystone Closes $22.9M Transaction for Texas Multifamily Property
Greystone, New York, closed a bridge loan debt placement and preferred equity component to refinance a multifamily property in Fort Worth, Texas. The financing totaled $22.9 million.
Newmark Finds Surging Multifamily Demand
Newmark, New York, reported multifamily demand surged in the first quarter with nearly 104,000 units absorbed–the largest first-quarter total since 2000.
CBRE: Multifamily Rent Grows Slightly
CBRE, Dallas, found multifamily fundamentals are beginning to stabilize, per first-quarter data.
Construction Spending Dips Again in February
The U.S. Census Bureau reported construction spending dipped again during February to a seasonally adjusted annual rate of $2,091.5 billion, 0.3% below January’s $2,096.9 billion figure.
RealPage Survey Reveals Multifamily Fraud Is on the Rise
RealPage, Richardson, Texas, found more than 75% of survey participants report an increase in rental fraud in their multifamily communities in the past year.
Permits for Homes Fell in 2023, Point2 Reports
Point2, Saskatoon, Saskatchewan, released its Housing Construction Report for the U.S., finding that 70% of U.S. metros experienced declines in permitting in 2023.
RealPage: Apartment Markets in College Towns Remain Steady
RealPage Analytics, Richardson, Texas, found in a recent analysis that college town apartment markets tend to remain steadier than the national norm, and experience higher apartment occupancy rates.
Yardi Matrix: 2024 Multifamily Outlook Mixed
Yardi Matrix, Santa Barbara, Calif., released an outlook for the multifamily market in 2024, pointing to expectations as “mixed.”