Offerd

This week's newsletter delves into the current state of the multifamily sector, highlights Offerd's innovative approaches, and announces our expansion plans to strengthen our brokerage team. We invite you to learn more about our strategies and opportunities for collaboration. https://lnkd.in/gWmSGNrZ

Overland Park, KS, has reclaimed the top spot as the most sought-after city for renters, surpassing Minneapolis this month. The West remains the most attractive region with 11 cities in the top 30, many in California. Detroit, Washington, D.C., and Atlanta are also among the top 10 in rental demand. Renters are actively searching online for the perfect place as peak moving season continues. Explore the latest rental trends and see which cities are drawing the most interest in the full report here https://lnkd.in/gHy5xeBY

Welcome to the Offerd team, Jim Lang! Jim Lang is a commercial real estate broker and non-practicing attorney with twenty years in commercial real estate, ten years in high-tech startups, and a JD/MBA dual degree from SMU. He specializes in multifamily acquisitions and dispositions for investors and developers in the Dallas/Fort Worth area and is experienced in many different types of properties, deals, and markets. 

📉 Vacancy Rates Decline for the First Time Since 2021! The U.S. multifamily market has reached a turning point. In Q2, vacancy rates fell by 10 bps, driven by strong demand and net move-ins hitting 138,000—the best quarter for absorption since 2021. Year-to-date absorption is close to surpassing 2023's total! 🏙️ Market Highlights: Over half of the 90 tracked markets saw declining vacancies. Top performers: Reno, NV; Minneapolis, MN; Richmond, VA. Midwest leads in vacancy reductions; the Sun Belt saw its first decline since the pandemic. For a deeper dive into the numbers and trends, read the full report here: https://lnkd.in/gp-AdK-9 #RealEstate #Multifamily #MarketTrends #VacancyRates #RentGrowth #PropertyInvestment

Rent Growth Stays Positive ➕ Advertised asking rents in Orlando mirrored the U.S. growth rate at 0.3 percent on a T3 basis in May, clocking in at $1,789. Despite a slowdown in deliveries, the metro’s 1.8 percent of existing stock outpaced the nation by 90 bps. Check out the full report here: https://lnkd.in/gzD_HKDP

Surveyed preleasing for the Yardi 200 schools reached 89.2% in July 2024, falling slightly behind July 2023 after leading for most of the leasing season last year, while advertised rent growth slowed to 4.7% from close to 7% early in the leasing season. Preleasing is still noticeably ahead of its pre-pandemic trend and rent growth is well above conventional multifamily, thanks to favorable supply-demand fundamentals. Check out the full Matrix Student Housing National Report-August 2024 here: https://lnkd.in/giqiGd24

Despite challenges like high interest rates, inflation, and an insurance crisis, the multifamily sector is poised for recovery. With the Federal Reserve likely to lower rates soon, Offerd is investing heavily in technology and expanding its teams to capitalize on the anticipated market rebound. Industry giants like Blackstone and KKR are reentering the market, signaling a brighter future. Read more in The Offerd Market Outlook: https://lnkd.in/g6xiW5U2

🔑 Understanding the Lowest Apartment Sale Prices in Major Markets 🏙️ Explore the most affordable multifamily investment markets in the U.S., based on Yardi Matrix data. This analysis identifies the top 50 metros by lowest per-unit prices in the Renter-by-Necessity (RBN) segment, highlighting trends in sales volume and price growth. Key insights include significant year-over-year changes and the impact of economic factors like interest rates and job markets. 📈 Discover more insights and detailed rankings in the full article: https://lnkd.in/g9fVxD4A

Welcome to the Offerd team, Erica Pingitore! Erica has a diverse background in finance and multifamily real estate. Most recently, she served as an Underwriter with Greystone’s Multifamily Affordable Agency Lending team. Prior to this, she was the Director of Finance for Greystone’s Affordable Development team in Raleigh, NC. Erica is excited to bring her multifamily experience from development and lending to her new role in Investment Sales. In her personal time, she enjoys spending time with her family, exploring new restaurants, and enjoying the outdoors and beach.

Welcome to the Offerd team, Robert Johnson! 🎉