Coldwell Banker Commercial Aspire Realty Services’ Post

https://lnkd.in/eN3ATBHP Rent Trends: A Comprehensive Look at the Multifamily Market 📈 As the world continues to adapt to the ongoing pandemic, the multifamily market has seen some notable changes in rent trends. From decreased demand in major cities to rising rates in suburban areas, it's clear that the landscape of renting is shifting. But what does this mean for landlords and tenants alike? Our latest trendline report dives deep into the data and uncovers key insights and predictions for the future. Don't miss out on the valuable information and expert analysis that could help you navigate the ever-changing rental market. #renttrends #multifamilymarket #COVID19impact #suburbanboom #trendlineinsights

The rental market is experiencing a shift, with single-family rents rising in some areas while multifamily rents are cooling down due to increased supply. #RentalMarket #HousingTrends #RealEstate https://ow.ly/3vla50RWHba

In February, Logan Mohtashami shared that "Single-family rents are stabilizing and holding up well. However, apartments are having pricing issues, meaning more supply is coming online, which will halt production of many more apartments until the supply and demand equilibrium can stabilize." The most recent rental data from CoreLogic confirms the trend... we continue seeing annualized gains in rents, but "...these gains are being driven entirely by detached properties. Attached properties, including condominiums, posted a yearly rent-price decrease for a second straight month, backtracking by 0.5% in April." This is good news for the resi market and supports forecasting lowing inflation reports in coming months and quarters. Rents are the biggest deal for core inflation and as single-family rent growth tapers off we should see CPI start to cooperate. Also, while we're not pitting single-family against multifamily... its a positive for the single-family resi market to see SFR rents holding up in comparison to attached housing units. https://lnkd.in/gsjasaN5

Current rental prices in Cincinnati, Cleveland, and Chicago are all slightly below peak but could reach record highs this summer if the recent growth trend continues. According to Realtor.com, below-average unemployment rates and the sluggish pace of new multi-home construction in these areas are driving rents higher. 📊💼 #RentalHousing #RealEstateTrends #MarketInsights #RealEstateData #MidwestRealEstate

US rental market continues to cool as record amount of new supply delivers https://ift.tt/evqJlN1 The national rental-housing market has continued to cool, with differing outcomes based on geography and unit type. Several markets in the South posted significant year-over-year declines in apartment rental rates as of April, according to a new Realtor.com analysis. Those declines were led by Nashville, Tennessee, and Austin, Texas, the latter of which has seen an 8.3% annual drop in asking rents and an 11.5% drop since peaking September 2022. Stay on top of the latest real estate news by signing… via Residential Real Estate News - Residential Real Estate News Headlines | Bizjournals.com https://ift.tt/eihwpAa June 12, 2024 at 06:05AM

🏙️ Realtor.com Says Multifamily Rents Spike in These Cities! 📈 🔍 Nationwide Overview: * Median asking rents across the nation dipped year over year in April, except for parts of the Midwest. 📉 Nashville Takes a Dive: * Rents for 0-2 bedroom apartments in Nashville plummeted by 8.4%. 🤠 Two Texas metros followed closely: Austin (-8.3%) and San Antonio (-8.1%). 🌴 Florida Feeling the Pinch: * Orlando (-5.9%), Miami (-4.3%), Jacksonville (-3%), and Tampa (-2.5%) experienced rent slumps. 🎉 Renters' Delight in the South: * Atlanta, Charlotte, and Baltimore saw rents drop by 5.6%, while Raleigh experienced a 5.3% decrease. * Memphis (-4.9%) and Richmond (-3%) also joined the trend. 🌇 Western Woes: * Phoenix led the losers with a 4.6% rent plunge, followed by San Francisco (-4.3%) and Las Vegas (-4%). 📊 National Trends: * Median asking rent for 0-2 bedroom units dropped by 0.7% from April 2023 to $1,916. * Rent declines have slowed, hovering just $33 below their peak in August 2022. 🏢 Studio & One-Bedroom Trends: * Studios saw the biggest hit with a 1.7% decrease to $1,443. * One-bedroom units experienced a 1.4% drop to $1,601. 🌟 Midwest on the Rise: * Some Midwestern cities witnessed rent climbs: Indianapolis (+4.5%), Milwaukee (+3.8%), and Minneapolis (+2.5%). * Cincinnati, Cleveland, and Chicago could see surges if the upward trend continues, facing affordability challenges. https://lnkd.in/gvERB63f

Is the rental market finally stabilizing? Let’s break down the implications for renters! Apartment rents have posted the largest annual increase in 18 months, rising 0.9% year-over-year to $1,645 in August. Still, they remain below their 2021 peak of $1,700.  -------- What does that tell us? -------- The multifamily market is stabilizing. 👉 Multifamily Supply Meets Demand  Building completions are at historic highs, pushing some landlords to lower rents and offer concessions. This is improving affordability in oversupplied areas.  👉 Affordability Gains With wages growing 3.8% year-over-year in August and rents stabilizing, renters are finding relief. Wage growth is outpacing rent hikes, making apartment living more affordable. For instance, 2-bedroom rents stayed flat at $1,725. 👉 Regional Trends  ➡ Austin saw a sharp 17.6% rent decrease, saving renters $317 per month.  ➡ Virginia Beach rents surged by 15.2%, highlighting regional differences across metros like D.C., Baltimore, and Chicago. -------- So, what’s next? -------- With construction slowing down, rents may stay stable, but regions with a backlog of new units will see continued balance in the market. For multifamily investors and developers, how will you leverage these trends in your strategies? P.S. Want to dive deeper into real estate trends? Follow A.CRE Consulting for more economic insights!

For the first time since 2020, asking rents across all unit types have seen a decline, signaling a shift in the multifamily market. Here's the breakdown: National Median Rent: Dropped to $1,647, down $53 from the 2022 peak. Rental Declines: Studios and 1-bedroom units saw minimal decreases, while larger 3-bedroom units experienced a 2.4% drop. Vacancy Rates: A steady national vacancy rate of 6.6%, with larger buildings hitting 7.8%, suggests an oversupply contributing to lower rents. Regional Impact: Texas and Florida, bustling with construction, lead with the most significant rent declines, notably in Austin and Jacksonville. This trend offers potential savings for renters, particularly families looking for more space. #Colliers #Pittsburgh #MoreIn24 #ThriveIn25 #ClosersCoffee #ColliersCapitalMarkets https://lnkd.in/e43Wya8M

Demand for multi- and single-family rentals remain strong, but rent trends are shifting. According to National Multi-Housing News’ September Report, markets with limited supply growth saw positive rent performance, while areas with more new inventory faced declines. Gateway cities and Midwest secondary markets lead in rent growth, with New York City and Kansas City performing well, while high-supply cities like Austin and Phoenix are slowing down. Check out the September Report below to learn more about the industry’s trends as we move towards the end of the year.

The rental market has entered its busiest time of the year, and rents are starting to tick up month-to-month. 📈 In March, they increased 0.6% nationwide and should continue to do so for the coming season. Yet, rent prices in many metros remain lower than a year ago, as annual rent growth remains in negative territory following a slow winter. It will likely take another month or two before 2024 establishes itself as a “hot” or “cool” year for rentals. While prices trend upward, a rising multifamily vacancy rate will keep runaway rent growth in check. The national rate hit 6.7% in March and has steadily risen for more than two years as new apartments flood the market. 🏡 Nationwide, the latest estimated median rent is $1,220 for a one-bedroom apartment and $1,374 for a two-bedroom unit. In total, rents remain down 3.6% from their all-time peak in August 2022.