Rent Growth Picks Up in July
Yardi Matrix - August 5, 2024
“Consistent economic growth and demographic trends sustained multifamily demand at the start of the third quarter, according to the latest Yardi® Matrix National Multifamily Report.”
https://www.yardimatrix.com/blog/rent-growth-picks-up-in-july/
Rents Rise in July as Policy Debates Heat Up
Yardi Matrix - August 1, 2024
“Multifamily advertised rents rose in July on the back of the strong economy. Job growth remained robust while inflation continued to ease, raising hope for interest rate cuts.”
https://www.yardimatrix.com/publications/download/file/5938-MatrixMultifamilyNationalReport-July2024
Multifamily Expenses Increase Above-Trend Levels
Yardi Matrix - April 3, 2024
“Expense growth varied by expense type and metro. By type it was led by property insurance (up 27.7% year-over-year), marketing (12.3%), administrative (9.6%) and repairs and maintenance (8.8%).”
https://www.yardimatrix.com/blog/multifamily-expenses-increase-above-trend-levels/
#RealEstate #CRE #Multifamily #YardiMatrix
@realestate
ht @REfeeds
National Multifamily Market Report – November 2023
Yardi Matrix - December 11, 2023
“Rent growth was negative in 14 of Yardi Matrix’s top 30 metros, most of which are Sunbelt markets with robust supply expansion. More so, in seven metros, the average rent contracted by 3.0% or more.”
https://www.yardimatrix.com/blog/national-multifamily-market-report-november-2023/
#RealEstate #CRE #Multifamily #YardiMatrix
@[email protected] @realestate
Rents drop for the third consecutive month, down $6 to $1,713 in November; year-over-year growth remains at 0.4%. Report highlights: Year-over-year rent growth remained at 0.4% for the second straight month in November. Slowdown stems from several sources: seasonality, loosening job market and surge in deliveries in some markets. Rents declined across property segments—Lifestyle down 0.4%, Renter-by-Necessity slid 0.2%. Single-family rents increased 0.7% year-over-year in November, to $2,117. Negative rent growth spreads out The average U.S. multifamily asking rent rose 0.4% year-over-year through November, to $1,713, marking the third consecutive month of contraction, down $6 from October. Growth continued to
Yardi Matrix Anticipates Uptick in Construction Completions for 2024-2025
Yardi Matrix - November 10, 2023
“Multifamily construction starts held at a relatively high level through the first half of 2023. As a result, the number of under-construction units not in lease-up continues to increase.”
#RealEstate #CRE #Multifamily #YardiMatrix
@[email protected] @realestate
ht @REfeeds
Led by Insurance, Multifamily Costs Jump Dramatically, Yardi Matrix Reports
Yardi Matrix - September 18, 2023
“Expenses for multifamily properties nationally grew by an average of 9.3% in the trailing 12-month period ending in June. That growth is 63% higher than the 5.7% increase during the previous 12 months.”
https://www.yardimatrix.com/blog/multifamily-costs-jump-dramatically/
#RealEstate #CRE #Multifamily #YardiMatrix
@[email protected] @realestate
Average property operating expense rises to $8,694 per unit, per year SANTA BARBARA, Calif., Sept. 18, 2023 – Rising costs for multifamily operators are the focus of a new research bulletin from Yardi® Matrix. Expenses for multifamily properties nationally grew by an average of 9.3 percent in the trailing 12-month period ending in June. That growth is 63 percent higher than the 5.7 percent increase during the previous 12 months, according to the new Matrix research. The recent increase in expenses represents $740 in additional costs per unit at the average U.S. multifamily property, with the average property operating expense
Expense Growth a Cloud in Strong Multifamily Performance
https://www.yardimatrix.com/publications/download/file/4361-MatrixMultifamilyNationalReport-August2023
Yardi Matrix - September 7, 2023
“Rents rose slightly in August and occupancy rates remained steady. However, there are headwinds that include the rapidly growing expense side of the ledger, led by mushrooming property insurance costs.”
National Multifamily Report – August 2023
https://www.multihousingnews.com/national-multifamily-report-august-2023/
Multi-Housing News - September 7, 2023
“The multifamily real estate industry maintained a healthy performance in August, with the average U.S. asking rent up $1 to $1,728, a 1.5 percent year-over-year increase and 20 basis points below the July rate.”
Matrix Bulletin-Multifamily Supply Forecast Notes-Q3 2023
Yardi Matrix - July 21, 2023
“The multifamily under construction pipeline continues to expand despite high interest rates and a tight lending environment, and as a result, Yardi Matrix has revised its new deliveries forecast upward through 2025, with a slight reduction in later years”
#RealEstate #CRE #Multifamily #YardiMatrix
@[email protected] @realestate
Matrix Multifamily Phoenix Report - June 2023
Yardi Matrix July 20, 2023
"Phoenix rent growth fell for the eighth month, down 0.4 percent on a T3 basis through April to $1,608, while the U.S. rate increased 0.2 percent. Development is still strong, with record new stock anticipated for 2023."
https://www.yardimatrix.com/blog/phoenix-multifamily-market-report-june-2023/
#RealEstate #RealEstateInvesting #CRE #Multifamily #YardiMatrix
@[email protected] @realestate
ht @REfeeds
Strong Supply Dents Rent Growth, Occupancy Phoenix’s robust stock expansion continues to impact rates and occupancy. The average rate posted the weakest performance among major U.S. markets, down 2.8% year-over-year through April, to $1,608. Meanwhile, the national figure decelerated to 3.2%, reaching $1,709. Occupancy slid 130 basis points in the 12 months ending in March,
Matt Maison
