Research Center
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for April 2017 in New York City.
Jacksonville’s Rapid Growth
A healthy employment climate, an inexpensive cost of living and mild weather are attracting jobs and new residents to Jacksonville, creating demand for apartments and bolstering rent growth.
Economy Watch: State Unemployment Rates Reach New Lows
Jobless rates were lower in April than in March in 10 states, stable in 39 states and D.C., and higher in only one state, according to the Bureau of Labor Statistics. Colorado’s unemployment rate of 2.3 percent is the lowest rate since the BLS began reporting these numbers in 1976.
Economy Watch: Leading Economic Indicators Hint at Late-Year Growth
A 0.3 percent increase in the Conference Board’s Leading Economic Index seems to point to the continual recovery of the U.S. economy, despite weak first-quarter GDP growth.
Kansas City’s New Look
Kansas City is in the midst of a transformation, growing as a financial and research center, with increased investment in infrastructure, all of which support multifamily fundamentals.
US Rent Growth Falls Below Long-Term Average
Average U.S. monthly rents increased by $3 to $1,314, the smallest growth seen since April 2011, when rates increased 1.5 percent.
Dallas Job Stats Point to Continued Growth
According to the Bureau of Labor Statistics, Dallas trails only New York City when it comes to job creation, meaning that people will continue to flock to the Texan city for work. The city’s current 95.1 percent occupancy rate indicates that it doesn’t have the massive multifamily shortage seen in other metros.
Philadelphia’s Apartment Revival
Yardi Matrix’s spring outlook for the City of Brotherly Love cites steady employment and population increases as a reason for the market’s increase in popularity. Demand is especially strong among job-seeking Millennials and Baby Boomers looking to downsize.
Economy Watch: Multifamily Markets Softening
All four indexes of the NMHC’s quarterly survey were below the breakeven level of 50, indicating that U.S. apartment market conditions are softening despite continued strong demand. New supply is finally catching up, and there seems to be more caution among buyers and lenders, noted NMHC Chief Economist Mark Obrinsky.