Randolph Taylor, CCIM’s Post

What to Watch in 2024: Multifamily Outlook Offers Demand the Chance To Match Supply 2024 multifamily market trends, focusing on the balance between demand and supply, and the impact on rent growth and vacancy rates.

The latest Moody’s CRE multifamily update looked at how 82 primary multifamily markets performed based not on straight rent growth or property sales, but effective revenue. It’s a look at what landlords actually receive. Effective revenue is occupancy rate times effective rent as an average per unit. Effective rent, or net effective rent, is the rent provided under the lease less any free rent periods, tenant improvement, or other cost reductions. The strongest five year-over-year effective revenue-per-unit figures came from markets in Northeastern, Midwestern, and Southern Atlantic regions: New Haven, Connecticut (1.5% year-to-date increase); Long Island, New York (1.4% increase); Wichita, Kansas (1.3% increase); Nashville, Tennessee (1.2% increase); and Greenville, South Carolina (1.1% increase). Then there were the five year-to-date biggest losses: Tulsa, Oklahoma (2.3% decrease); Austin, Texas (2.1% decrease); Colorado Springs, Colorado (1.9% decrease); Orange County, California (1.6% decrease); and Providence, Rhode Island (1.5% decrease).

U.S. Multifamily Market Faces Challenges Ahead Explore the 2024 outlook on multifamily rent trends, market challenges, and investment impacts. See what's ahead for the sector. https://lnkd.in/dR9H53DB

Exciting insights on the Kansas City multifamily market for Q1 2024 from Northmarq! Despite mixed performances, the market remains stable with a strong renter demand keeping vacancy rates low. Get the full scoop on rent growth, transaction volume, and future forecasts. Read on: https://buff.ly/3LHHTMK #RealEstate #KansasCity #MultifamilyMarket #Investment #MarketTrends

In commercial real estate, pricing cycles are common, lasting about 7-10 years. Focusing on multifamily properties, many trends have followed this pattern. Using CoStar's Commercial Sales Index, this shows the past and current conditions. There was a significant drop in multifamily during 2023-2024. As for March 2024, multifamily prices were down 26% from their peak in July 2022. Factors such as higher interest rates and slowing net operating income are contributing to these declines. Experts are suggesting a potential 25-30% reduction in multifamily property values. https://lnkd.in/ePEAp8G6 - #commercial #commercialrealestate #multifamily #apartmentsnearme

Multifamily markets are poised for a strong rebound. Despite recent temporary rent adjustments, demand is rapidly outpacing new supply, setting the stage for robust occupancy rates and accelerated rent growth. By mid-2025, most high-supply markets will see positive rent trends, with property values steadily rising. Discover the bright future ahead for multifamily housing as the market shifts towards sustained growth and stability. Read more below: https://lnkd.in/gad2RXR5 #cbre #multifamily #multifamilytrends #supplyanddemand

U.S. Multifamily Market Faces Challenges Ahead Explore the 2024 outlook on multifamily rent trends, market challenges, and investment impacts. See what's ahead for the sector.

3 min summary ~ State of the U.S. Multifamily Market: Mid-Year 2024, watch here: https://lnkd.in/ecNDaJGr #stateofthemarket #multifamily #rentgrowth

After two years of declining multifamily operational results, there are signs that the market could be turning the corner. First, the U.S. multifamily market staged a strong demand rebound during the first quarter of 2024, as 104,000 units were absorbed, the highest number since the third quarter of 2021. Stable economic growth and rising consumer confidence have created excellent conditions for expanding the release of pent-up household formations first observed in 2023.  This is creating positive multifamily demand momentum as we move into the all-important Spring leasing season.