Multifamily Real Estate Markets Update (June 2020)
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
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
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
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 close of 2019 saw multifamily rent growth slow as it usually does during the winter months. The year overall was consistent as the top
Apartment demand is expected to decrease in 2020, even after strong absorption in 2019. Rent control will affect certain markets negatively with increased regulations. Rent
Multifamily Occupancy is at its highest rate since 2000, and rental growth stays relatively strong. US homeownership rates are rising, even though apartment occupancy is
Apartment vacancy rates are hitting their lowest points in nearly two decades and rent growth has continued to increase from this time last year. Prime
Multifamily demand is still strong, but the delivery of units is taking longer. Rental growth is slowing as we begin the fourth quarter of 2019.
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