This week’s multifamily roundup provides insights on the outlook for the sector, renting patterns among Seniors and Millennials, and strategies to attract and retain talent. First, Yardi notes that industry participants are optimistic about the performance of the multifamily market this year, with expectations for continued rent growth and apartment demand. Next, Freddie Mac reports that older generations are choosing to age in place, resulting in a high homeownership rate for the age group, while Millennials are continuing to delay homebuying. Arbor’s Chatter blog shares unique approaches multifamily owners and property managers are taking in order to recruit new employees and maintain a productive work environment. Then, NREI argues that strong demand and positive fundamentals will help the apartment sector remain resilient, even if there is a market correction or downturn in the near future. Finally, NAHB analyzes why the share of potential homebuyers is declining, finding that a lack of affordability is a major concern for the market.

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S. Multifamily Outlook Holds Strong

Yardi – February 7

“A January survey of 127 major U.S. real estate markets showed that despite flat rent performance, which is normal for winter, year-over-year rent growth increased by 10 basis points to 3.3%, the sixth consecutive month above 3%.”

While Seniors Age in Place, Millennials Wait Longer and May Pay More for their First Homes

Freddie Mac – February 7

“We find that seniors born after 1931 are staying in their homes longer, and aging in place. The result is higher homeownership rates for this group relative to previous cohorts.”

Multifamily Firms Share Strategies for Success in the War for Talent

Arbor Chatter – February 5

“Multifamily owners and managers gathered for a panel at the NMHC Apartment Strategies Outlook Conference in San Diego to discuss the strategies they’re implementing to attract the right employees and entice them to stay with the organization for the long term.”

The U.S. Apartment Sector Would Continue to Remain Strong Even in a Recession

NREI – February 5

“Though the high end of the market may be feeling the strain of overbuilding, the sector overall is benefitting from long-term trends that should continue to fill apartment units for the foreseeable future.”

Share of Adults Planning to Buy a Home Drops From 24% to 13% in a Year

NAHB – February 4

“This sharp decline in the share of prospective home buyers provides additional evidence that the erosion of housing affordability has become a serious concern for the housing market.”

 

By | 2019-02-22T18:19:35+00:00 February 7th, 2019|Blog, NYC, Real Estate|0 Comments

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