Research Center
May 2017
Commentary and data were supplied by Michael Neal, a senior economist with the National Association of Home Builders (NAHB).
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for June 2017 in New York City.
Strong Development Softens Demand in Portland
Anchored by a diversifying economy and fueled by an expanding population, the city’s multifamily market remains strong despite its recent slowing rent growth.
Tech Scene Stays Hot, Rent Growth Cools in San Jose
Silicon Valley is the nation’s largest tech hub, a top-performing venture capital market and one of the most prominent locations for startups.
Solid Fundamentals, Positive Momentum in Atlanta
The city has become an economic powerhouse in recent years. It is currently one of the fastest-growing metro areas in the nation.
Economy Watch: Rents Rising in More Than Half of US
Twenty-six states and Washington, D.C., saw rental increases during the first six months of 2017, according to a recent ABODO report. The largest average increases occured in South Carolina, Maine, Vermont and Rhode Island.
St. Louis Gears Up
Despite a slowly declining population, the city continues to see positive economic trends driven by job gains in education and health services, leisure and hospitality, and professional and business services.
Albuquerque: On the Mend
The area’s multifamily market is held back by a persistent struggle with a sluggish labor market. Despite being the hub of New Mexico’s technology corridor, the metro has experienced only modest population and employment growth throughout the recent economic expansion.
Miami’s Healthy Climate
With substantial job gains and above-average population growth, the city continues to foster positive fundamentals for multifamily. However, rent growth has decelerated to long-term averages, as the overwhelming amount of new supply begins to take its toll.
Sacramento Sets the Standard
Although rents across the country have been decelerating in recent months, the California capital continues to outperform. While no longer in the double digits, its rent growth continues to lead major metros.