Brooklyn Receives Royal Treatment
The area’s rents stopped their slide this spring, following a lengthy spell when affordability issues and insufficient Renter-by-Necessity stock had driven residents away from the borough.
Supply Wave Softens Demand in Queens
This year’s multifamily development is expected to reach a cycle peak in the borough, which continues to benefit from Manhattan’s prohibitive prices.
Economy Watch: Declining US Birth Rate to Impact CRE
While the effects might not be felt for a few decades, a prolonged U.S. birth rate slump is likely to put a damper on demand for certain kinds of real estate, particularly rental apartments.
Economy Watch: More Americans Traveling Further to Work Than 10 Years Ago
Many workers are taking on longer commutes in exchange for more affordable housing located on the periphery of major cities rather than in urban cores or inner suburbs, according to a recent Apartment List report.
Top 10 Multifamily Transactions in the Southern US
Bolstered by an increase in transaction activity over the previous two years, more than 40 communities changed hands in the region so far this year for a total sales volume of roughly $650 million.
March 2018
Starts of buildings with five or more units rose by 16.1 percent at a seasonally adjusted annual rate in March 2018 to 439,000, after an 11.7 percent decrease in February.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales recorded in April 2018 in New York City.
Phoenix Tops With Most Single-Family Rentals, Multifamily Still Strong
Usually associated with the suburbs, single-family rentals have expanded much faster than the multifamily stock in no less than 22 of the 30 largest US cities.
Economy Watch: Tax Credit-Financed Multifamily Performing Well
Multifamily communities financed by the federal government’s LIHTC program are operating better than in any period during the program’s history, according to a recent CohnReznick report.
Economy Watch: Apartment Development to Spike in Certain Markets
In 10 of the nation’s 50 largest markets, apartment supply in 2018 is expected to increase 40 percent or more from 2017 levels, according to a recent RealPage report.