This week’s roundup takes a look at multifamily rent growth, Charlotte’s market performance and the top metros for housing growth in 2020. First, Multifamily Executive reports that national rent growth has remained above 3% since the spring of 2018, according to Yardi Matrix data, reflecting consistent robust demand for apartment units. Next, Arbor’s Chatter blog spotlights the Charlotte metro area, which has been a top performer in 2019 due to record-high investment volume and a growing job market. Realtor.com lists the top 10 housing markets in 2020, which were chosen based on their growth potential over the next year. Then, another Arbor Chatter blog analyzes the expansion of the small multifamily sector, noting that small apartment properties are growing the fastest in smaller U.S. cities. Finally, MBA offers a new whitepaper that examines the current economic environment and commercial/multifamily real estate market conditions, noting that low interest rates, steady economic growth and stable fundamentals have provided tailwinds for the real estate industry.
Multifamily Housing Wraps 2019 with 3.1% YOY Rent Growth in November
Multifamily Executive – December 10
“The average U.S. multifamily rent fell $3 to $1,473 in November, according to the latest National Multifamily Report by Yardi Matrix. Year-over-rent growth fell by 20 basis points, down to 3.1% for the month.”
Market Spotlight: Charlotte Outperforms in 2019
Arbor Chatter – December 11
“Rent growth in Charlotte has been on par with national leaders, amid record-high levels of investment volume and new development.”
realtor.com – December 12
“Housing and economic momentum, coupled with lower price tags and healthier levels of supply, will combine to form the perfect recipe to attract and satisfy buyers and give these markets the spotlight in 2020.”
Small Multifamily Expanding Rapidly in Smaller U.S. Metros
Arbor Chatter – December 10
“While large cities have historically held a tight grip on the U.S. rental housing supply (especially multifamily), new data indicates a development push toward smaller metros.”
New MBA White Paper, Where From Here?, Analyzes Commercial Real Estate Trends and Outlook
MBA – December 10
“Although there is a connection between CRE and CREF markets and the broader economy, general economic changes may not translate to commensurate changes for the sector.”
