Reporters discuss bombshell story on Better.com’s CEO

An exclusive interview with the Forbes reporters who recently wrote a bombshell article about Better.com CEO Vishal Garg’s controversial workplace culture.

Now is the time to double down on diversity and inclusion efforts

Quicken Loans Mortgage Services is proud to partner with a diverse set of brokers, which broadens the pool of potential clients they serve together.

How to Accelerate Closings in 2021

In this webinar, we’ll provide you with actionable insights to help you accelerate your closing process from point-of-sale through post-closing.

Why are sellers sitting on the housing market sidelines?

Why aren’t more homeowners selling in this hot housing market? According to new research from Zillow, a number of factors are at play.

Real Estate

Multifamily housing market wrapping up 2019 on a strong note

Rent growth, low vacancies and more

All indicators thus far show that 2019 will end up being a very solid year for multifamily real estate.

Now, a new report from YardiMatrix just adds more fuel to that fire.

In 2019, more than 320,000 multifamily units were absorbed into the market, or rented.

That absorption was short of the cycle peak of 377,000 in 2016, but 2019 marks the sixth straight year with at least 250,000 units absorbed.

Seattle, Denver and Dallas topped the absorption list, with Washington, D.C., Houston and Austin, Texas also having strong years.

“Fundamentally, occupier demand is strong, and rents continue to grow
in most segments,” the report said. “Meanwhile, property values are at all-time highs and debt markets are functioning smoothly, with healthy deal flow and few delinquencies.”

YardiMatrix found that the average rent in November went down $3 to $1,473, but rent was still up 3.1% over the same month last year.

Since Spring 2018, rent growth has exceeded 3% due to strong demand.

In the third quarter this year, multifamily vacancy fell to 3.6%, down 40 basis points from 2018, to the lowest level since 2000, according to a report from CBRE.

And it’s looking like 2020 will be another good year for the multifamily market, as renting is very much on the horizon for some,

According to a report from Zumper, 32% of respondents said they don’t believe the American Dream includes homeownership, and 20% said they don’t plan to buy a home in their lifetime.

“Overall demand in all of these markets remains extremely high, and none have extreme winters, so the pattern doesn’t have an obvious explanation,” the report said. “Rents may be affected by new deliveries that tend to come online in the fall. Job growth and in-migration continue to be strong in the Pacific Northwest, so we would expect rent gains to pick up again in the new year.”

Most Popular Articles

The downside of the hot 2020 housing market: rapid home-price growth

The mismatch in the COVID deflationary impact toward the economy overall and the strength of the housing market due to demographics makes for a troubling formula for home-price growth, which we are seeing. The recent NAR existing home sales report showed 15.5% year-over-year growth in prices. HW+ Premium Content

Nov 30, 2020 By

Latest Articles

Fannie and Freddie need “significant capital” to leave conservatorship, Mnuchin says

In a hearing before the House Financial Services Committee, Treasury Secretary Steven Mnuchin said no definite plans have been made for the future of Fannie Mae and Freddie Mac, but discussed the idea that they could be released from conservatorship before their full capital levels are reached.

Dec 02, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please