Amy Lookabaugh’s Post

Trending In Rentals- As #ApartmentRenters in many cities have been getting some relief from price increases because of the enormous amount of new supply being delivered by developers, new constructions are beginning to slow down as many apartment developers are experiencing difficulties in attaining financing & are stepping on the brakes! As new supply is likely to tapper off in 2025, existing landlords are already anticipating rent increases. Good Read: https://lnkd.in/e9iWS6wA Douglas Elliman Real Estate

Many may find this shocking, but I don't. When fewer apartments are built, rents go up. Supply and demand is a simple concept that applies to housing production just like everything else in the marketplace. Do you believe if we build more housing, rents will decrease? Apartment Construction Is Slowing, and Investors Are Betting on Higher Rents - WSJ https://buff.ly/3B69YLq #housing #apartments #development

🏘️ Only 52% of newly constructed apartments in Q2 2024 were rented within 3 months of completion, the 2nd lowest reading since 2020. 📉 This is down from the 74% record posted in Q3 2021, according to Redfin. 🔻 1-bedroom and 2-bedroom apartments saw the biggest declines driven by the spike in new apartment construction. 📈 Apartment completions jumped 22.6% year-over-year to 117,500 in Q2, the highest in at least 12 years. 🚀 Completions are up by a whopping 56.6% over the last 2 years. 👉 Does the the US housing market seem to be slowing??? What do you think? Leave us a comment below!

Recently apartment tenants have seen rent relief across the country in some of the biggest cities due to “the enormous amount of new supply being delivered by developers.” Despite this period of relief, we shouldn’t expect it to last too long. Apartment construction is beginning to slow due to a rise in interest rates and inflation, pushing construction costs up. That means supply will start to decline while demand is expected to slowly increase (exacerbated by higher home prices). Economic theory teaches us to expect a rise in rent again. #Apartments #PropertyManagers

Apartment Construction to Break Record in 2024: Which US Cities Will See the Most? A report from RentCafe shows new apartment construction in the United States is expected to reach a record high of 518,108 in 2024, reports Mary Salmonsen in an article for Multifamily Dive. That sounds like good news for renters feeling the housing affordability crunch. However, according to the same report, the majority of those units are high-end projects that cater to middle- and higher-income renters. It also predicts says new apartment construction will likely fall year over year between 2025...Read More>>> https://buff.ly/4g48aTd #Insulation #ConstructionNews #MultiFamily #CommercialInsulation #MultiFamilyConstruction #Construction

Apartment Construction to Break Record in 2024: Which US Cities Will See the Most? A report from RentCafe shows new apartment construction in the United States is expected to reach a record high of 518,108 in 2024, reports Mary Salmonsen in an article for Multifamily Dive. That sounds like good news for renters feeling the housing affordability crunch. However, according to the same report, the majority of those units are high-end projects that cater to middle- and higher-income renters. It also predicts says new apartment construction will likely fall year over year between 2025...Read More>>> https://buff.ly/4g48aTd #Insulation #ConstructionNews #MultiFamily #CommercialInsulation #MultiFamilyConstruction #Construction

As apartment construction slows across the U.S., big investors are betting on higher rents as a result. With fewer new buildings coming to market, the supply of apartments is shrinking, leading experts to anticipate a boost in rent growth and property values. Developers are halting projects due to rising interest rates and tighter financing, leaving investment firms to seize opportunities in existing properties. Will the slowdown continue, and how will it affect rental markets nationwide? Continue reading The Wall Street Journal article to find out more about the changing landscape in multifamily real estate.

BREAKING: Only 52% of newly constructed #apartments in Q2 2024 were rented within 3 months of completion, the 2nd lowest reading since 2020. This is down from the 74% record posted in Q3 2021, according to Redfin. 1-bedroom and 2-bedroom apartments saw the biggest declines driven by the spike in new apartment #construction. Apartment completions jumped 22.6% year-over-year to 117,500 in Q2, the highest in at least 12 years. Completions are up by a whopping 56.6% over the last 2 years. The US #housing market seems to be slowing.

Among several other metros, San Francisco is expected to see a slowdown in apartment construction by 2028. Between 2019 and 2023, San Francisco saw 38,060 completed apartments according to RentCafe. "That number is poised to drop to an estimated 25,730 for 2024 to 2028 — a 12,330 difference. Meanwhile, a projected 5,078 rentals in the San Francisco metro area will be complete this year — of that, about 1,100 will be in the city proper." Seeing this considerable decrease in apartments in the area, assuming employment doesn't drop precipitously, means there’s a likelihood that landlords will raise rents as availability is not what was once intended. #Apartments #Landlords #SanFrancisco BayArea

More than half a million apartments are expected to be completed this year, an increase of 9% over 2023 and 30% from 2022. New inventory is enough to house the entire population of Atlanta, with 60% of new apartments coming to market in just 20 metros, according to a study by RentCafe. Construction is likely to slow down next year, with more than half of the 370 markets studied expected to see a decelerated pace of activity. Apartment deliveries may surge again in 2028, the report said. The top market for apartment construction is New York, for the third year in a row, with nearly 33,000 new units expected to become available this year. Brooklyn is playing a key role in this growth, adding three times more units this year than Manhattan. New York metro's apartment construction boom stems from the Northeast's persistent housing shortage. Texas was a surprising chart-topper in second place, with Dallas expecting to add only a handful fewer units than New York this year. Austin is expected to add 21,506 units. Together, these two markets will account for nearly 10% of all new apartments in the United States in 2024, the study found. Dallas' consistent population growth, business-friendly environment, affordability compared to similar-sized metros, and strong infrastructure all are attractive for companies and construction projects. Phoenix secured the fourth spot with an estimated 20,141 new apartments expected to open across the metro area before the end of 2024, and Atlanta rounded out the top five with 18,520 new ones expected by the year's end. By 2028, two million apartments are set to come online despite uncertainties in most markets that are causing fewer new projects to start. High-end apartments continue to dominate new developments, as borrowing costs and economic uncertainty are causing developers to reevaluate their strategies, leaving renters in some markets with limited affordable options, said RentCafe. Even with apartment construction reaching a new peak in 2024, higher borrowing costs are affecting the multifamily sector, prompting many developers to adjust their strategies for the coming years toward lower-risk projects in markets with strong demand and job growth.