This week’s multifamily roundup features insights on multifamily construction starts in the top 10 metros, the occupational profile of workforce renters and where luxury apartment rents are rising. First, Multifamily Executive reports that construction activity has picked up over the last six months in half of the top 10 metro markets. Then, Mortgage Bankers Association explains why multifamily performance should remain strong through the rest of 2018, according to Freddie Mac. Arbor’s Chatter blog takes a look at how the occupations of workforce renters are changing to adapt to economic and other market changes. Next, HousingWire examines how rising rents and home prices are supporting a renter nation, despite a slight uptick in the homeownership rate. Finally, RealPage states that while luxury rents are flattening in some markets, there are still certain metros seeing significant price increases in Class A units.
Multifamily Starts Mixed in Top 10 Metros in H1 2018
Multifamily Executive – August 14, 2018
“Half of the top 10 metropolitan markets for commercial and multifamily construction starts showed increased activity during the first six months of this year compared with a year ago.”
No ‘Looming Threats’ to Multifamily Performance
Mortgage Bankers Association – August 14, 2018
“The multifamily market’s current strong performance should continue throughout 2018 and well into 2019, said Freddie Mac Multifamily, McLean, Va.”
The Changing Occupational Profile of Workforce Segment Renters
Arbor Chatter – August 14, 2018
“Workforce segment renters living in small apartment properties are adapting to the changing economy, while also representing a broad occupational base.”
The Rise of Renter Nation and Why it’s Here to Stay
HousingWire – August 10, 2018
“The homeownership rate is slowly rising – the most recent data show a sharp surge in young adult homeownership over the past two years – but it will likely take many years, if ever, for it to get back to its lofty pre-recession peaks.”
Luxury Apartment Rents Rising Quickly in Some Markets
RealPage – August 8, 2018
“In some big-construction markets, rent growth has flattened in Class A product, as operators of existing luxury units rein in their pricing strategies in an effort to keep occupancy from tumbling.”
