This week’s look at multifamily news points to promising investment opportunities with the reopening of businesses amidst signs of economic recovery. Arbor’s curated update provides insights about specific metros showing resilience, and the reasons behind their anticipated strength. First, Realtor.com explains how tech hubs are leading cities in recovery from COVID-19 losses. Next, RealPage takes you to five locations which look solid for real estate investments. All of them were best kept secrets coming into 2020. An Arbor Chatter blog infographic showcases Phoenix, where the apartment sector had the highest rent growth in the nation. Multifamily Executive reviews steps multifamily owners and operators are taking as states phase in re-openings. Finally, NREI explores the benefits for businesses starting new multifamily developments in today’s economic environment.
Tech Hubs May Have the Edge in the Housing Recovery
Realtor.com – June 18
“The overall recovery index is showing greatest recovery in Denver, Boston, Seattle, San Francisco and San Diego, all five being established tech hubs with strong job markets pre-COVID.”
Better-Than-Expected Local Apartment Market Performers
RealPage – June 15
“Here are five markets where results continue to look relatively solid, or at least are better than many would have anticipated in the event of a big-time national disruption.”
Phoenix Multifamily Market Snapshot — Q1 2020
Arbor Chatter – June 16
“The average asking rent in Phoenix increased 6.9% during the 12 months ending in March 2020, according to Moody’s Analytics REIS, and has risen every quarter since third-quarter 2010.”
Multifamily Owners and Operators Navigate the Reopening of States
Multifamily Executive – June 12
“As states begin reopening in phases after stay-at-home orders blanketed the nation due to the COVID-19 pandemic, apartment owners and operators are heeding guidance, prioritizing communication, and making decisions based on the market.”
When Will Building New Units Make Sense Again? Apartment Developers Remain Uncertain
NREI – June 18
“Some lucky multifamily developers will start work on new apartment projects at the perfect time, as the U.S. begins to recover from the economic crisis caused by the COVID pandemic.”
