Multifamily construction delays continue to impact the industry, largely due to permitting delays and a lack of materials. Markets known for outsized 2010-2020 deliveries have seen significant decreases, with markets like Denver down 51%..
Gateway markets are continuing to be hurt the most by the pandemic, with San Francisco taking the most significant damage in both occupancy and rent growth. Higher cost metro areas are suffering the most, while low-cost markets and low-rise..
The US economy contracted at an annual rate of 31.4% during the second quarter of 2020. The inflation rate was 1.3% for the 12 months ending in August 2020. The unemployment rate increased 440 basis points from one year ago and stood at 7.9%.
Unsurprisingly, the markets that have been hit the hardest in 2020 have continued this trend as we enter the 4th quarter. Primary/Gateway markets and urban core/downtown areas have seen the largest decline in rents and occupancy. COVID-19 has..
The impact of COVID-19 on the multifamily market continues to shift trends to suburban and southeast construction starts. The overall market remains mixed for the September report, with permits roughly flat, and construction starts down, but..