Multifamily Construction Update (July 2020)
COVID-19 continues to cause delays across the multifamily construction industry. Still, as the economy opens up, signs of life are appearing across new proposals, permits,
COVID-19 continues to cause delays across the multifamily construction industry. Still, as the economy opens up, signs of life are appearing across new proposals, permits,
Low-density markets continue to garner developer attention, especially given the potential fall-out from COVID-19. While new starts continue the downward trend and completions remain soft,
The Effects of COVID-19 are beginning to take effect, as asking rents are declining in most major markets. Renters by necessity are relatively stable in
NMHC Construction Survey (Round 2) shows continued pressure throughout the multifamily construction sector, while forward-looking metrics (permits, starts, completions) also continue to decline. One shining
Apartment retention rates are up, but rent growth is down. Operators are seeing increased short-term rentals on renewals due to COVID-19, but new leases are
Construction-related issues begin to take hold as COVID-19 tears through the nation. Construction delays from the stay at home orders (affecting permits) and global supply-chain
The multifamily industry has seen some minor effects of the COVID-19 pandemic, but the performance was better than expected after rent collections. Class C properties
Year-over-year rent growth has slowed, while the end of 2019 was relatively stagnant. Overall, 2019 had a strong performance and will likely continue into 2020
The Nation’s highest supply markets continue to offer the greatest concessions, year after year. However, the overall market is healthy. For the year ended January
The close of 2019 saw multifamily rent growth slow as it usually does during the winter months. The year overall was consistent as the top
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