Multifamily Market Feb15

Multifamily Market

The U.S. multifamily market’s consistent performance over the past several years should continue into 2020, according to a new market analysis from Yardi Matrix. That outcome assumes the absence of major shocks to the macro economy or the capital markets such as trade war escalations or slowing growth in Asia and Europe. But for now, prospects remain bright, thanks to steady economic growth in most markets, a healthy job market, low interest rates and an oil glut that has suppressed inflation. “Even if employment were to cool and the economy to face a mild recession, we expect the housing market, and multifamily specifically, to ride through the downturn with relatively little impact,” the report says. Other concerns loom over the market. For example, despite the decade-long economic expansion, homebuilders haven’t kept up with demand, producing a significant housing shortage in many metros. That imbalance and steady rent growth prompted rent control measures in high-cost California, New York and Oregon in 2019. Industry watchers are wary of additional state and municipal legislation intended to promote affordability that could end up dampening development and driving investment to markets with higher growth potential. Yardi Matrix is ready to share insight into factors shaping the U.S. multifamily market including potential military conflicts in the Middle East; the growth of technology and manufacturing in places like Phoenix, Atlanta, Denver, Seattle and Austin, Texas; millennials’ and boomers’ lifestyle preferences; construction labor shortages; the Fed’s actions; and more. Download the new market analysis for winter...

New Office Insight Jan22

New Office Insight

Here are some highlights of the most recent U.S. office property report from Yardi Matrix: Office-using employment increased 1.6% year-over-year in November 2019. The average asking rate increased 2.3% year-over-year that month while the vacancy rate fell 10 basis points to 13.6%. Growth in demand for office space as measured by office-using employment is heavily concentrated in a handful of metros. The top 20 markets tracked by Yardi Matrix accounted for 64% of office-using employment growth from October 2018 to October 2019 but only about 42% of total employment growth. Transactions through November totaled $82.2 billion, on pace to match or exceed the $93 million recorded in 2018. Sixty-seven million square feet of space was delivered year to date through November and another 156 million square feet remains under construction. Learn more about key trends in national supply, demand and sales—along with the factors driving listing rate increases in Brooklyn, N.Y.; and why the office market economies in Nashville, Tenn., and Orlando, Fla., are riding high—in the Yardi Matrix national office report for December...