Multifamily Real Estate Markets Update (January 2021)
Apartment demand has recovered from low levels in the first half of 2020, with strong third and fourth quarters. 2021 construction will see more than
Apartment demand has recovered from low levels in the first half of 2020, with strong third and fourth quarters. 2021 construction will see more than
Major metro data has come in for 2020, and construction activity was down (sometimes significantly) across the majority of the top 10 metros (Phoenix excluded).
San Jose, New York, and San Francisco are the markets with the largest rent declines, along with many primary markets. The outlook for 2021 is
Multifamily developers continue to look for new areas to build that might show more resilience to ‘force majeure” events. The near-term answer appears to be
The office and retail sectors are facing major headwinds, with retail landlords starting to accept the need for a seismic shift in the use of
Multifamily construction delays continue to impact the industry, largely due to permitting delays and a lack of materials. Markets known for outsized 2010-2020 deliveries have
Gateway markets are continuing to be hurt the most by the pandemic, with San Francisco taking the most significant damage in both occupancy and rent
The US economy contracted at an annual rate of 31.4% during the second quarter of 2020. The inflation rate was 1.3% for the 12 months
Unsurprisingly, the markets that have been hit the hardest in 2020 have continued this trend as we enter the 4th quarter. Primary/Gateway markets and urban
The impact of COVID-19 on the multifamily market continues to shift trends to suburban and southeast construction starts. The overall market remains mixed for the
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