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.
Top Real Estate Education Programs 2017
As the demand for higher education increases across industries, the number of universities with real estate-specific programs continues to grow. Here is the 2017 MHN-CPE Leaders in Real Estate Education.
February 2017
Commentary and data were supplied by Michael Neal, a senior economist with the National Association of Home Builders (NAHB).
Rent Growth
Rents were up 2.7% nationwide in March, down 10 basis points from February and exactly half the 5.4% growth rate of a year ago.
