News & Trends

This department of Rental Housing Journal is dedicating to keeping apartment owners, multifamily executives, real estate investors, landlords and other real estate professionals up to date with the latest trends in real estate, property management and more. Here you will find trends in rents, real estate sales, apartment development, the economy at large and property management and investing industry matters.

real estate market trends
Thu
25
Jun
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Seattle: The Good, The Bad and The Ugly

The overall housing market, locally in Washington state and nationally, continues its strong run after weathering the storm during the downturn market of the Great Recession years.
As bleak as those years were for apartment managers, owners and developers, the market is making up lost ground rapidly, assisted by improved job growth, robust in-migration, a movement from home ownership to renting by choice, and demographic forces of Millenials and Baby Boomers entering the rental market at a rapid pace.
New construction in the Puget Sound region is at historical levels, yet occupancies remain strong and rent growth remains higher than long term historical averages. Although many would have predicted a softening of the market due to high new construction, the trend for 2015 remains very positive. It would be predicted that 2016 and 2017 will see lower rent growth, higher vacancies and a return of concessions, as a result of all the new development in the pipeline.

Thu
25
Jun
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Can You Handle the Truth About Apartment Rents? Apartment Rent Trends In Seattle

The average apartment rent in Seattle rose 8.3% in the past year. That’s a lot. No doubt about it. It beats inflation. It beats wage growth. So some in the media and special interest groups take to calling this a problem of skyrocketing rents, a crisis, an emergency. Is it really? Let’s take a look.
First, let me say this about that. That type of hyperbole is misleading at best. And it is dishonest at worst.
Next, that 8.3% rent increase compares rents last year with rents this year. That’s fine, except for one thing. Developers opened a lot of new apartments in the past year. And new units have more features and rent for more. So it is really an apples-to-oranges comparison.
So you should exclude the new units to make an apples-to-apples comparison. We did that, and found rents rose 7.5%. That’s still a lot, but at least this correction makes the data more meaningful and more honest.

Fri
19
Jun
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Dupre & Scott Video Report: DEMAND FUEL

DEMAND FUEL 9,400 people moved into the Puget Sound region every month, on average, over the past 12 months. That’s impressive. But the growth in in-migration has been slowing. In fact, it looks like it has flattened out so far this year. Okay, let’s take a more careful look at this trend.

Fri
12
Jun
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Dupre & Scott Video Report :Can you handle the truth about apartment rents?

Can you handle the truth about apartment rents? The average apartment rent in Seattle rose 8.3% in the past year. That’s a lot. No doubt about it. It beats inflation. It beats wage growth. So some in the media and special interest groups take to calling this a problem of skyrocketing rents, a crisis, an emergency. Is it really? Let’s take a look.

Thu
04
Jun
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Dupre & Scott Video Report: RIDING THE WAVE

Over the next 5 years developers plan to open 49,000 units. That’s a lot of new units, but we’ve seen it before. In fact, developers produced more new units back in the late 1980s. There is one thing we haven’t seen before though. Let’s take a look.

Fri
29
May
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Dupre & Scott Video Report: KEEPING AFLOAT

We usually talk about sales trends region-wide in these videos. But just like not all boats maneuver the same way, not all submarkets behave the same. So this week we will take a look at some submarket sale trends.

Thu
14
May
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Dupre & Scott Video Report: REFUSING TO FUMBLE

People keep moving here and at a faster pace each year. This market refuses to fumble. Let's take a look at some of these trends for the region overall and for each county.

Wed
13
May
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Apartment rents have nowhere to go but up in 2015

As tall tower cranes have become a fixture in the Portland skyline, many are wondering how many units will be added to the Portland metro area in the next few years. According to the spring 2015 Barry Report (published by Patrick and Mark Barry Appraisers) somewhere between 12,000-16,000 units will be built between 2015 and 2016. Typical annual demand is between 3,000 and 4,000 units per year. That translates into a likely surplus of apartment units in 2016.
Given the increased supply, what is forcing rents up?
Increased demand for rentals is driven by demographic changes, population growth, and job growth. The low rate of apartment vacancies, at the 3% mark across the Portland Metro marketplace, is evidence of this.
Demographic changes. The millennials have exited college, moved out of their parents’ home and are populating central urban areas of major cities. They have created significant apartment demand in the metro Portland area.

Fri
01
May
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Dupre & Scott Video Report: FOUR SALE TRENDS

Four positive trends are emerging from Puget Sound apartment sales activity in the first four months of this year. Let’s take a look.

Tue
14
Apr
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Western Markets Showing Increasing Signs of Strengthening, Says Veros' Latest 12-Month Forecast Update

Veros Real Estate Solutions (Veros), an award-winning industry leader in enterprise risk management, collateral valuation services and predictive analytics, reports that the residential market is gaining momentum with a greater percentage of markets expected to increase in value over the next 12 months, moving upwards to 86% from last quarter's 82%. The latest VeroFORECAST also found two interesting market areas, one on each coast, that reflect both the predicted top and bottom growth areas in the residential market.

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