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
Wed
21
May
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Dupre & Scott Video Report: QUALITY OF LIFE VS. STICKER SHOCK

QUALITY OF LIFE VS. STICKER SHOCK Year-to-date migration into the region is up almost 20% this year compared to last year. A total of just over 33,000 people moved here between January and April. Even if half as many moved out, that still means there are 16,500 more people lining up at Starbucks every morning.

Sun
04
May
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Dupre & Scott Video Report: Sometimes mom-and-pops pop!

Sometimes mom-and-pop’s pop We get a lot of questions about how property size or type might affect rent trends. Some investors think that rent performance in single-family, multiplexes, small apartments and on up to very large complexes trends differently. We just finished our spring research on rents for all of these property types, so let’s take a look.

Mon
28
Apr
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Dupre & Scott Video Report: WHAT ARE SALES SAYING?

Let's take a look at apartment sales activity in King, Pierce, and Snohomish counties to see what it can tell us about the health of our market right now and investor attitudes. We've got the first quarter under our belt now, so recent trends should be pretty informative.

Thu
17
Apr
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Dupre & Scott Video Report: IS NEW FOR YOU & OLD IS THROUGH?

IS NEW FOR YOU & OLD IS THROUGH? New construction has been the hot topic for everyone in the Puget Sound region lately. And for good reason. And we’ve talked a lot about it. But that doesn’t mean we should ignore another important part of the market, properties built in the 1980s and 1990s. That time period frames the last huge building boom we’ve had in our region. And just because new is exciting, doesn’t mean old can’t be exciting too. If you need proof, just look at Elizabeth here, a 1913 model T. She is old. But she is a gem.

Wed
16
Apr
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Dupre & Scott Video Report: SIT DOWN & HOLD ON

We were very disappointed by the Academy of Country Music Awards show last Sunday. What a whipsaw year so far. First we were thrilled when four of the nine movies nominated for best picture at the Oscars were specifically about apartment trends in the Puget Sound region. But it was a huge letdown when we saw that none of the country music nominations had anything to do with apartments. Even worse, Toby Keith wasn’t even nominated for his brilliant discussion about Seattle development trends in his song.

Wed
16
Apr
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Industry Representatives visit with Utah’s Congressional Delegation

Each March the National Apartment Association holds the largest advocacy training conference

in the rental housing industry in Washington DC. As usual, Utah sent a delegation that attended

meetings, discussed federal legislative and regulatory policies and then visited with members of Utah’s

congressional delegation.

“This year, we were able to visit with both of our U.S. Senators and 3 out of four of the congressional

offices and discuss the issues affecting rental housing,” said Paul Smith, UAA Executive Director. “As

usual, our senators and representatives seem to be on the same page as us that rental housing is

a necessary component of a balanced housing policy and needs to be protected from overzealous

regulation and too much push for homeownership at any price. Living in an apartment or other kind of

rental housing is a legitimate life choice and needs to be an option for all Americans”, he says.”

Wed
16
Apr
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Portland Retail Market Report

Despite a slow 3rd quarter Portland’s retail market continued its steady growth heading into the final quarter of 2013. Overall Portland’s rental rate and vacancy remained stable while only a hand full of properties were delivered to the market. Submarkets in and around Beaverton and the I-5 corridor saw little if any construction but are poised to bring major deliveries to the market in 2014. East of the Willamette saw the most construction during this slow quarter with a number of deliveries and current construction taking place. While local investors are dominating the retail market interest is growing population and employer growth is catching the interest of national and regional investors looking for new markets. The third quarter was far from lucrative but few negative indicators and a major projects show the market’s stability moving into 2014.

Sun
30
Mar
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The Metro-Phoenix Apartment Market - 2013 Wrap Up

I am fascinated by the 2013 metro-Phoenix, Multi-Family Sales numbers. Maybe fascinated isn’t really the right word; but the numbers are interesting and very encouraging considering the last four or five years.
During 2013, there were 285 sales of apartments with 10 or more units. 182 of these sales had between 10 and 99 units and 103 sales had 100 or more units. Here’s where it gets interesting: The 182 sales of 10 – 99 units amounted to $243,391,008 and 5,955 units. Pretty impressive. Wait. The 103 sales of properties with 100 or more units totaled $2,336,626,810 and 27,428 units!
The charts below show the details of the 2013 Multi-Family sales with the additional breakdown of when the property was built.
Metro-Phoenix Apartment Sales – 2013 (10 to 99 Units)
Built 1940 to 1979 Total Sales Total/Average
No of Transactions 113
Price/Unit $40,388
Price/SF $53.03
$139,493,022

Sun
30
Mar
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Dupre & Scott Video Report: SOMETIMES IT'S JUST A LEMON

Have you ever heard the expression, when life hands you lemons make lemonade? Well, sometimes you just have to accept that it's nothing more than a lemon. There has been a lot of talk in the media lately about how fast rents are climbing. But oddly, nobody wants to talk about the real elephant in the room. We started to in December. Now here's some more detail.

Thu
20
Mar
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Dupre & Scott Video Report:FORWARD TO THE PAST

FORWARD TO THE PAST Seattle’s Museum of History and Industry is a gem. And it would be worthwhile for everyone interested in our region’s apartment market to spend an afternoon there. Why? History has a way of repeating itself, at least in our region's apartment market.

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