This week’s roundup highlights the hottest housing market of 2019, apartment size trends, and how technology and data are impacting the single-family rental (SFR) market. First, Yahoo Finance announces that Phoenix was 2019’s top housing market due to surging rents and home prices, as well as its strong employment growth. Next, NREI reports that the average size of newly built apartments has shrunk on the West and East coasts, as developers in these dense cities have been focusing on building more studio and one-bedroom units. Arbor’s Chatter blog takes a look at how tech and big data are changing the SFR market, with investors increasingly using new solutions to gather and organize data to help them buy and sell properties. Then, RealPage observes that the percent of expiring leases that were renewed in 2019 increased to 53.3%, continuing an upward trend that began shortly after the Great Recession. Finally, Commercial Observer features an analysis of the Los Angeles small multifamily sector, based on exclusive research from an Arbor Realty Trust-Chandan Economics report, noting that despite some headwinds, the segment is expected to perform well in 2020.
Yahoo Finance – December 18
“Phoenix’s strong job market, proximity to more expensive housing markets in California and dry, warm climate have made it the hottest housing market of 2019.”
NREI – December 19
“As developers build more new apartment buildings in busy urban areas, they are focusing more on studios and one-bedrooms apartments for single people and childless couples.”
Arbor Chatter – December 18
“Tech and big data are changing the SFR market. Industry insiders say there’s still a need for people skills. They discuss how AI and emotional intelligence come together in real estate.
RealPage- December 18
“The percentage of expiring leases that were renewed in the year-ending 3rd quarter 2019 rose to 53.3%. That continues a general uptrend that began shortly after the period known as the Great Recession, when the lease renewal rate dropped as low as 46.8% in 2009.
Commercial Observer – December 16
“When overseas investors think of U.S. real estate, Los Angeles is one of the top markets on their minds. The demand for rental units is fueled by a strong housing market.”