Corinthian Asset Management, LLC’s Post

Dallas-Fort Worth’s multifamily market stood on steady ground in the middle of the second quarter. Advertised asking rents picked up after nine months of flat or negative performance, improving 0.2% on a trailing three-month basis through May, to $1,540, while the U.S. average rose 0.3%, to $1,733. Clocking in at No. 1 among our top markets for multifamily investment in 2023 was Dallas-Fort Worth, with $4.2 billion. Volume was down to less than half of the $10.5 billion recorded in 2022 and to just over one-quarter of 2021’s $15.6 billion, in line with nationwide trends of softening activity. The Metroplex remained a powerhouse of multifamily demand in 2023, as robust job growth and a heavy supply pipeline attracted investors. - Insights from the July 2024 Yardi Matrix Multifamily Report

Rental Demand Stays Robust. Houston and Dallas have experienced the first and second strongest recovery rates, respectively, among the nation’s largest markets; in Dallas, occupancy rates have stabilized around 90%. Fewer New Deals: “Razor-thin” yield margins and increased financing costs have contributed to a significant slowdown in new development deals. Some developers are pausing new projects to allow the current supply of multifamily units to be absorbed. #Multifamily #RealEstate

New multifamily deliveries are expected to cool in key markets, potentially easing vacancies and stabilizing falling rents. The largest delivery declines are expected in Southern metros like Houston, Orlando, and Jacksonville. Fewer deliveries may offer a more balanced environment for multifamily investors and developers.

🏢 Multifamily Absorption is Surging! Here’s What It Means for Investors 📊 Key Highlights from Q1 2024 Record Absorption: Nearly 104,000 apartments were absorbed in Q1, shattering the 30-year average of 12,500. Reduced Vacancy Time: The average apartment sat idle for only 28 days, down from 34 days in December 2023. Increased Demand: New lease applications per unit hit an eight-month high, and renewal rates were the highest since August 2023. New Supply Boom: Over 135,000 units were completed in Q1, the highest quarterly record ever. 🤔 What Does This Mean for Multifamily Investors? High Demand: Strong absorption rates indicate robust demand for multifamily housing. This is a positive sign for potential rental income. Quick Turnovers: Reduced vacancy time means properties are rented out faster, improving cash flow stability for investors. New Supply Impact: The influx of new units can affect vacancy rates and rent prices. However, it also shows that developers see long-term potential in the market. Concessions Rising: With more supply, some properties are offering concessions. This could be a sign of market adjustment and competition. Market Clustering: Key markets like Atlanta, Austin, and Dallas-Fort Worth are seeing the most construction, indicating hot spots for investment. 📈 How 7fold Realty Advisors Can Help At 7fold Realty Advisors, we help you navigate these trends: Expert Analysis: We provide insights into market dynamics to make informed investment decisions. Strategic Investments: We focus on high-demand markets to maximize your returns. Investor Education: We offer resources to help you understand the multifamily landscape. Pic is of Hayden Lake Country Club. This is where I will be later today. #RealEstateInvesting #Multifamily #InvestmentStrategy #7foldRealty #MarketTrends #PassiveIncome

When opportunity knocks, Multifamily real estate  maybe the door worth opening. Three points for your consideration⬇️ 1. Supply Shortage    → Development starts are down, with fewer new projects hitting the market. → Population keeps rising, putting pressure on available housing. → This shortage keeps demand high, especially for rentals. 2. High Interest Rates     → The last time renting was cheaper nationwide? 1930. → It might sound counterintuitive, but high rates favor rentals. → Buying is more expensive in all 50 states, making renting the clear choice. 3. Skyrocketing Demand for Rentals → Limited supply + high rates = a rental market on fire. → We’re not just watching—we’re stepping up to fulfill this demand. → Multifamily properties meet an essential need for affordable housing. With these forces driving the market, our partners focus on multifamily isn’t just a strategy —it’s a solution. DM "Opportunity" to discuss our investment in Battle Ground, Washington

CBRE’s research indicates that multifamily markets with high supply and negative rent growth may soon bounce back. Stabilizing occupancy rates and strong renter demand are setting the stage for rent growth, especially in cities like Atlanta, Orlando, and Phoenix. As these trends continue, property values are expected to rise, even in the most oversupplied markets. https://lnkd.in/e7ck5uDV

We all want immediate improvements, whether in your personal or professional life. Growth, however, tends to be gradual, not sudden. That’s what we’re witnessing in the multifamily market with steady rent growth across the country, expected to average 1.7% by year-end. As always, there are nuances, with the Midwest seeing significantly stronger rent growth at 4.7% for 2025, and other cities, such my home of Chicago, posting a 2.9% gain in Q2 alone. In the end, patience always pays off. If you’re considering expanding your portfolio into the recovering multifamily market, connect with me on LinkedIn! https://lnkd.in/gHdgM7B4

CBRE’s research indicates that multifamily markets with high supply and negative rent growth may soon bounce back. Stabilizing occupancy rates and strong renter demand are setting the stage for rent growth, especially in cities like Atlanta, Orlando, and Phoenix. As these trends continue, property values are expected to rise, even in the most oversupplied markets. https://lnkd.in/e_VaGM4Y

The Pittsburgh multifamily market faces some challenges continuing to impact new developments and lease activities. ◾ Rising construction costs ◾ Tightening credit ◾ Higher tenant improvement expenses Despite these obstacles, the market remains strong with stable vacancy rates and positive rent growth as shown by the latest Yardi Matrix Reports. 📈 Steady Rent Growth: Pittsburgh's advertised rents have risen by 2.0% year-over-year to $1,373, outperforming the national average increase of 1.5% in H1 2024. 🏗️ Robust Development Pipeline: With 17,943 units in development and 3,070 already breaking ground, Pittsburgh continues to expand, positioning itself as a prime location for multifamily investments. 🏘️ Strong Demand: Despite a slight cooling from the previous year's absorption rates, Pittsburgh still saw a positive net absorption of 787 units over the past 12 months, highlighting sustained demand. 💼 Employment Growth: Employment in Pittsburgh has grown by 1.1% over the past year, coupled with a slight increase in hourly wages, reflecting a healthy economic environment supportive of real estate growth. 🌍 National Context: While national rent growth has moderated post-pandemic, regions like the Northeast and Midwest are leading the way, with New York City seeing a 4.8% increase. Pittsburgh's performance aligns with these positive trends, showcasing its resilience. What do you think about Pittsburgh's current multifamily market trends? Do these insights align with your experiences or expectations? Share your thoughts, questions, or insights in the comments below! Insights drawn from Yardi Matrix National Multifamily Report (June 2024) and Matrix City Page (May 2024). #CRE #PittsburghBusiness #PittsburghCommercialRealEstate #PittsburghRealEstate #RealEstateDevelopment #Multifamily #NationalRealEstateTrends #Yardi

Despite all the changes affecting the multifamily sector since 2020, historical real estate fundamentals have been a reliable predictor of rent growth. In Seattle, the same neighborhoods that underperformed on rent growth in the 2010s have continued to do so in the current decade. #CBRE  https://bit.ly/3WmK3rn