economy
Remote Work Impact
The impact of remote work on the housing market has been significant. In a webinar by Yardi Matrix, Jeff Adler, Matrix vice president, brought up several notable shifts. The full recording and presentation slides are available online. Let’s explore the big-picture impact of remote work on housing and communities. There are myriad cultural changes from […]
06 / 06 / 23
Multifamily Outlook
The national outlook for the multifamily sector remains positive through the end of 2022, with asking rent performance expected to have increased by around eight percent by year’s end. That’s according to the latest U.S. Multifamily Outlook report released today by Yardi® Matrix, a leading provider of data and analysis on most real estate verticals. […]
07 / 21 / 22
Renters Still on the Move
With the future of office-based employment still in flux for millions of Americans, the multifamily industry continues to see dramatic shifts in where renters are living, as well as rent increases that have yet to be fully factored into the nation’s inflation calculations. Summer and early fall of 2021 saw dramatic increases in multifamily asking […]
Materials Volatility
Why have housing prices risen so dramatically lately? The answer begins with a huge uptick in demand driven by rising housing starts – seasonally adjusted single family housing starts in December 2020 hit their highest level since 2006 – along with low mortgage interest rates. An equally crucial factor is the rising cost of materials […]
08 / 19 / 21
Rents Rise Nationwide
Multifamily asking rents jumped an average of 6.3% year-over-year in June, the largest leap ever recorded by Yardi Matrix, a leading industry data tracker. The national average apartment rent increased $23 last month to $1,482, another record, and single-family home rents were up 11% year-over-year. “These are the largest year-over-year and monthly increases in the […]
07 / 21 / 21
Recovery Gains
As the U.S. economy continues to show recovery gains, multifamily housing follows suite. Several factors including prevalent industries, vaccination rates and employment create a distinction between markets with rapid growth and lagging gains. Need-to-know data, quick and easy Multifamily rents increased by 2.5% year-over-year (YoY) in May. This nearly reflects rent growth rates of March […]
06 / 15 / 21
Fashion Retailers
Stay-at-home orders, occupancy limitations and business closure orders during the pandemic took a big toll on fashion merchants. Renowned retail brands such as Neiman Marcus Group, J. Crew Group Inc., Brooks Brothers, Ascena Retail Group (operator of Ann Taylor, Lane Bryant and others) all filed for bankruptcy protection last year as sales plummeted 86% in […]
06 / 14 / 21
Surviving + Thriving
During every Yardi Matrix webinar, vice president and presenter Jeff Adler shares the big picture of current economic conditions and conundrums – also known as the Yardi Matrix House View. Here’s how the view is looking from the Matrix vantage point these days: “We had a deep recession. We’re in the middle of a recovery. […]
Sublease Space to Spare?
Commercial real estate has encountered a space problem: there is too much of it. Unused, unwanted square footage is having a ripple effect throughout the industry, stalling new deals and prompting tenants to get creative with their leases. Which markets have the most excess space? Tech markets such as San Francisco and Boston are among […]
Relocations + Rent Drops
Already apparent in the U.S., COVID-19 has resulted in a migration from major cities and falling rents. As the housing industry braces itself against continued impacts from the virus, will both trends continue into the third quarter? Market analysts, real estate agents and renter surveys give us clues about what to expect. Are people really […]
Long Term Impacts
With the U.S. economy in a recession, unemployment numbers sky high and COVID-19 cases surging in the south and west, multifamily owners and operators face challenging times ahead. And things may get worse before they get better, according to a new special report from Yardi Matrix. The report is based on a study of 107 […]
07 / 06 / 20
Rents Drop, Prompting Concern
When you think about a 0.3 percent drop in anything it hardly seems like a big deal. It’s just 3 pennies on every 10 dollars. If you are an apartment operator and that reflects the national average on rents for May compared to April, some would figure it’s something not too difficult to make up. […]
Reshoring Jobs
A thriving job market is great for commercial real estate, especially when it demands industrial sites. After decades in China, several American-owned manufacturers are bringing their jobs back to American soil. Property developers and owners in a few unlikely areas are benefiting from reshoring efforts. Why the Switch? The American skilled labor workforce has always […]
02 / 26 / 20
Downturn Ready?
At Maximize powered by NAA, the annual conference dedicated to asset and revenue management and long-term value creation for apartment portfolios, industry pros talked about how changes in the economy — including an expected downturn ahead — will impact multifamily revenue management. This year’s sessions covered renovations and amenities in some detail, with panelists speaking […]
10 / 30 / 19
Migration Matters
U.S. migration from domestic and international sources continues to hold profound implications for the country’s economy and demographic composition. It’s also the subject of a new research report from Yardi Matrix. The report notes that the South, Southwest and West accounted for 80% of the population growth in the country’s top 50 metros between 1970 […]
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