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
28
Jun
The Editors's picture

Pending Home Sales Drop For Third Straight Month In May

Pending home sales drop for third straight month in May

The ongoing supply shortages that are propping up home prices in many metro areas caused pending home sales in May to slump for the third consecutive month, according to a release.

None of the major regions in the country saw an increase in contract activity last month, according to the National Association of Realtors (NAR).

 

Low inventory sidetracked the housing market

"Monthly closings have recently been oscillating back and forth, but this third consecutive decline in contract activity implies a possible topping off in sales," Lawrence Yun, NAR chief economist, said in the release.

Tue
27
Jun
The Editors's picture

Growing Demand And Tight Supply Are Lifting Rents And Home Prices

Growing demand and tight supply are lifting rifts and home prices new Harvard study says

The growing demand for housing and the tight supply are pushing up rents and home prices a new study says.

A decade after the onset of the Great Recession, the national housing market has, by many measures, returned to normal, according to the latest State of the Nation’s Housing report release by the Joint Center for Housing Studies of Harvard University. But housing demand, home prices, and construction volumes are all on the rise, and the number of distressed homeowners has fallen sharply.

However, along with strengthening demand, extremely tight supplies of both for-sale and for-rent homes are pushing up housing costs and adding to ongoing concerns about affordability, according to the release.

Tue
27
Jun
The Editors's picture

New Scottsdale Apartments To Feature Low-Density And Large Floorplans

New apartments in North Scottsdale targeting older demographic

New apartments opening in North Scottsdale this fall, San Portales, plan to offer some of the  largest units built as rentals in Arizona and are targeted to an old demographic, according to a release.

The new complex is targeted to an older demographic. It features larger rental units, direct-access two-car garages and elevators located throughout the development, according to multifamily developer Mark-Taylor.com

Wed
21
Jun
The Editors's picture

Housing Demand Robust But Not Enough Homes For Buyers

Housing demand high but not enough inventory

More Millennials are starting families and want to buy homes, but they heading into a housing market with inadequate inventories and rising prices, a new study says.

In addition existing homeowners are reluctant to sell their homes because there is not enough inventory for them to find another home to buy says First American Financial Corporation in a release.

Low inventories, high demand and declining affordability

“As more and more Millennials marry and have children, among the strongest determinants for the desire to be a homeowner, demand for housing will remain robust. However, the housing market faces a dilemma that is restricting the inventory of homes for sale,” Mark Fleming, chief economist at First American, said in the release.

Tue
13
Jun
The Editors's picture

Mortgage Payments Unaffordable In Half of America's Largest Markets

Mortgage payments too expensive in half of u.s. major cities

Mortgage payments are unaffordable in many of the nation’s largest markets as low home inventory pushes prices higher leading more to continue renting, according to a new study.

"Homes have gotten so expensive in many major cities that even with low mortgage rates, monthly costs for homes that are currently for sale are starting to be unaffordable," Zillow Chief Economist Dr. Svenja Gudell, said in a release.

 "Down payments are a top concern for today's homebuyers, but the reality is that monthly costs are becoming unaffordable as well. Low inventory is pushing sticker prices higher, and when mortgage rates start to rise, monthly payments will be driven further into unaffordable territory,” Gudell said.

Mon
12
Jun
The Editors's picture

U.S. Needs 4.6 Million New Apartments By 2030 To Keep Up With Demand

The U.S, needs 4.6 million new apartments by 2030 to keep up with demand new study says

The U.S. will need 325,000 new apartments, especially in the West,  every year between now and 2030 to meet the growing demand as more people move away from buying houses and choose apartments, according to a release of a new study from Hoyt Advisory Services

The new study commissioned by the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) says the growing demand for new apartments is due to the delayed marriages, the aging population and international immigration.

Thu
01
Jun
The Editors's picture

Philadelphia Apartment Rent Hikes Lead The Nation In June

Apartment rents in June top 10

Although nationwide one-bedroom apartment rent has nearly returned to the January 2017 mark of $1,016 — after a March low point of $1,003 — in certain cities, rent prices have been more volatile, according to a new release from Abodo.com.

For the first time this year,New Orleans has fallen out of the nation’s top 10 for greatest rent rises. In its stead, Philadelphia, PA, leads the pack with an 11.7% increase — one of the largest rent hikes this year, second only to an 11.8% increase in NOLA for April 2017.

The substantial rise in Philly rents is surprising, since for much of the year, the City of Brotherly Love has seen only decreases in rent prices.

See all the apartment rent charts from Abodo.com here.

Mon
29
May
The Editors's picture

Tenants United Protests Portland Property Managers Awards Ceremony

Protests at last year's ACE awards in Portland held by Multifamily NW

Protests by Portland Tenants United  happened for the second year in a row at the annual awards ceremony of a Portland property management association as pickets showed up at the event, according to various reports.

The protesters were at Multifamily NW’s annual recognition ceremony for outstanding work by property managers in the Portland area, called the ACE awards, held by Multifamily NW which is an association promoting quality rental housing.

Demonstrators lined the sidewalks around the event. There was no report on how many demonstrators were at the event.

Mon
22
May
The Editors's picture

Zillow Launches Instant Offer Program In Two Test Markets

Zillow launches instant offer test program

Zillow has launched a new program called instant offer that allows homeowners to get offers from real estate investors as well as local Zillow premier agents, according to a release.

Zillow says the program, which is being tested in Las Vegas and Orlando, as way for homeowners to sell their homes quickly by providing them with offers from investors and a comparative market analysis (CMA) from a local real estate agent, as an estimate for what the home might fetch on the open market. In addition to investors being required to use an agent, should a homeowner select an investor’s offer, Zillow will also offer to connect them with a local agent to represent them throughout the transaction.

Fri
19
May
The Editors's picture

Why Rents Are Rising Faster In The Suburbs

Rents rising in the suburbs Zillow study says

Rents are rising in the suburbs as many renters are looking outside of city centers for more affordable housing, causing rent payments to grow faster in the suburbs than urban areas

As rents become more expensive, renters are starting to look for cheaper housing options outside downtown cores, according to a release from Zillow.

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