Apartment demand has recovered from low levels in the first half of 2020, with strong third and fourth quarters. 2021 construction will see more than 400,000 deliveries, outpacing 2020 by more than 50,000 units. Secondary and tertiary markets are..
San Jose, New York, and San Francisco are the markets with the largest rent declines, along with many primary markets. The outlook for 2021 is positive but will likely be led by suburban submarkets rather than urban submarkets as residents look..
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..
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..
Once again, rental growth trends are favoring slower, non-gateway markets. Primary markets and west coast markets are seeing the largest impact from COVID-19. Unemployment benefits are falling short and retention rates have reached all-time highs.
Transaction volume is expected to significantly decrease compared to 2019, and declining rent growth and income growth will hit the coastal markets the hardest. Nationwide, rents have declined in four consecutive months as of June.