This week’s multifamily roundup offers insights on apartment completions, supply-demand fundamentals and senior renters. First, RealPage notes that new supply is expected to surge in 2020, with markets such as Houston and Los Angeles set to see the highest year-over-year boost in apartment completions. Next, Nareit observes that despite elevated levels of construction activity, rental demand remains robust, which is a good sign for apartment REITs. Arbor’s Chatter blog analyzes the profile of senior renters, showing that the segment includes a slightly higher share of women and those who are divorced or separated. Then, The Washington Post examines the impact of the affordable housing shortage on migration patterns, noting that many are moving out of gateway markets in search of less expensive housing options. Finally, Trepp discusses the multifamily industry’s transformation into a top real estate sector, fueled by demographic shifts and institutional investment.

Apartment Completions Set to Spike in 2020

Real Page – July 16

“Markets expected to log the most year-over-year increase in new supply include Houston, Oakland and Los Angeles, which are all scheduled to see completion volumes swell by more than 5,000 units in the coming year.”

Supply-Demand Fundamentals Favor Apartment REITs

Nareit – July 18

“Demographic forces and household formation are key drivers in the demand for both apartments and single-family homes, and demographics are calling for a high level of construction today.”

Senior Renters Living with Roommates: Who Are They?

Arbor Chatter – July 16 

“Women make up a slightly larger share of seniors co-living in apartments, while divorcees and those separated form the largest group of co-living seniors.”

Lack of Affordable Housing is Fueling a Reverse Migration from Big Cities

The Washington Post – July 16

“The search for affordable housing is driving a new migration pattern Kelman dubs the ‘Wrath of Grapes,’ referencing the reverse migration of characters in John Steinbeck’s novel ‘The Grapes of Wrath.’”

Multifamily: From a Second-Tier Asset Class to King of the Hill

Trepp – July 16

“The traditional path toward the ‘American dream’ typically began with renting an apartment, then moving to homeownership in a bucolic suburb. That changed as a result of the Great Financial Crisis.”