Christian Busch’s Post

"Thanks to strong tenant demand and constrained supply, rent growth is surging among Seattle’s high-rise apartments. In the first quarter of 2024, high-rise asking rents rose an average of 2.8% year-over-year. This building style saw the greatest year-over-year rent growth for all residential subtypes except townhomes, which clocked 3.2% growth over the past year. The recent growth in high-rise rents contrasts with a longer-term trend. Over the past five years, high-rise rent growth was only 5%, the weakest performance among its multifamily peers. Garden-style communities outperformed over that same stretch, seeing a cumulative 26% rent growth."

CoStar Group analytics reports that apartment rents in #Sacramento, California have increased every month in 2024, driven by ongoing waves of newly completed #construction. Despite more than 3,000 new units hitting the market this year, Sacramento's strong renter demand has kept the vacancy rate steady at 6.6%, unchanged from last year. After exploring #multifamily properties in Sacramento earlier this month, I recognize the city's robust rental demand. Sacramento is emerging as an attractive destination due to its affordability and proximity to the Bay Area. Known as the Farm-to-Fork capital and an agricultural hub, Sacramento also boasts a rich history, cultural diversity, and a thriving economy. Our team has identified numerous opportunities in this promising market with 92 units in Carmichael and 180 units in Rancho Cordova. https://lnkd.in/gmmqp7XA.

Multifamily has some challenging times in 2024 — depending on where you are and how you approach it. Apartment List has a list of predictions for the 2024 rental market. But they’re easier to understand in a bigger context, that of the mix of challenges and benefits facing multifamily professionals. The big questions for 2024 are what property valuations might be, the future for rent growth, and strong price discovery. The basic dynamics are demand and supply, but each of those faces complications. To read more about the multifamily predictions for 2024, click here: https://buff.ly/4adruL1. #themcdanielteam #marcusmillichap #northcarolina #charleston #southcarolina #raleigh #charlotte #thecarolinas #triadarea #commercialrealestate #valuations #supplyanddemand #construction #newbuilds #rentgrowth

The newest issue of Northeast Multifamily & Affordable Housing Business has arrived – see why “NYC Investors Hunt for Distressed Deals” in the cover story. Higher interest rates and tougher regulations stalled many apartment deals in 2023, but some distressed owners may be forced to sell in 2024.  By Bendix Anderson; insights from – James H. Simmons III, Asland Capital Partners; Elie Rieder, Castle Lanterra ; Douglas Eisenberg, A&E Real Estate; Joe Koicim, Marcus & Millichap; Peter Carillo, Investment Sales / Greater New York Area, HKS Real Estate Advisors; Eric Brody, Anax Real Estate Partners. Inside this Issue How Do I Ensure My Dog Park Will be a Howling Success?  Your tenants and their canine companions will keep coming back to a pet amenity space that is thoughtfully planned, well designed and diligently maintained.  By John Sarver, Gyms For Dogs™ Northeast Renters Rate Top 10 Most Desired Apartment Features, Community Amenities Comfort, safety and everyday convenience are among top preferences of survey respondents.  By Sarah Yaussi, National Multifamily Housing Council Gen Z: 90 Million Renters Who Command Our Attention Invest in apartment construction that catches the eyes of young tenants and watch your lease renewals and occupancies grow.  By Tim Mustard, AIA, TCA Architects, Inc. Read the issue: https://lnkd.in/e-2AfsMd #NortheastMultifamily #Multifamily #AffordableHousing #CRE Scott France

Is there relief in sight for Charleston’s multifamily occupiers? For the first time since the third quarter of 2020, Charleston’s multifamily rent growth has slowed to 1.5% year over year (YoY). Rent growth is expected to further decelerate to 0.6% (YoY) in the first quarter of 2024. Multifamily rates have significantly slowed since the 13.9% YoY growth observed during the historical highs of 2021. Why is apartment rent growth finally subsiding in the market? It may be the result of occupancy rates declining to 90.3% at the end of 2023. Research from Avison and Young #realestate #commercialinvestment #multifamily #multifamilyinvesting #multifamilyrealestate #charleston #southcarolina

🌟 Invest in Denver! 🌟 Our rental properties market is holding steady. According to the latest Apartment List Rent Report, the overall median rent in the city is currently $1,730 - barely budging for the last year. 🏙️ In fact, the #1 market that's grown year-over-year was Ft. Wayne, Indiana (+1%). We'll explore detailed insights into how purchasing a Denver rental property could increase your wealth: 💸📊 303-903-7188, karen.pepper@compass.com. #denverinvestmentproperties #denverrentalmarket #denverinvestmentopportunities #karenpepper #compass #preferreddenver

When it comes to multifamily rents, smaller coastal markets are making a big splash. Select markets in Florida and California are ranking alongside the nation’s largest metros for nation-leading change in monthly rents. GlobeSt has more from this report: https://lnkd.in/gnk_FrBf

At the end of 2023, NYC experienced a spike in building permits. New building applications have increased — not for apartments, but one to three family homes. “There were 728 new building filings in the fourth quarter of 2023, a 113 percent increase from the previous quarter and a 73 percent increase from the fourth quarter of 2022,” According to REBNY. Do you think this shows the city should focus on building more multifamily rentals?

🌟 Invest in Denver! 🌟 Our rental properties market is holding steady. According to the latest Apartment List Rent Report, the overall median rent in the city is currently $1,730 - barely budging for the last year. 🏙️ In fact, the #1 market that's grown year-over-year was Ft. Wayne, Indiana (+1%). We'll explore detailed insights into how purchasing a Denver rental property could increase your wealth: 💸📊 #denverinvestmentproperties #denverrentalmarket #denverinvestmentopportunities #preferreddenver

When it comes to multifamily rents, smaller coastal markets are making a big splash. Select markets in Florida and California are ranking alongside the nation’s largest metros for nation-leading change in monthly rents. GlobeSt. has more from this report: https://hubs.ly/Q027KgG60