Marcus & Millichap’s Post

2024 is shaping up to be a record-breaking year for multifamily housing. From January to March, we saw the strongest first-quarter net absorption ever recorded, with 104,000 apartments occupied. April brought further recovery, with vacancies down to just 28 days and lease activity hitting new highs. Exciting times ahead in the multifamily sector! #MultifamilyHousing #RealEstateTrends #MarketUpdate

Demand momentum in the multifamily sector is surging. From January to March 2024, nearly 104,000 apartments were occupied, marking the strongest first-quarter net absorption on record. Historically, only about 12,500 units were absorbed during this period over the last 30 years. With spring and summer traditionally being strong months, net absorption is on track to hit a three-year high. April saw a significant recovery, with the average vacancy period dropping to 28 days, and new lease applications and renewals reaching multi-month highs. Discover the full report: https://lnkd.in/eGaTCzBf #cre #multifamily #commercialrealestate

Check out the 2Q Multifamily National Report! 🏢Demand momentum in the multifamily sector is surging. From January to March 2024, nearly 104,000 apartments were occupied, marking the strongest first-quarter net absorption on record. Historically, only about 12,500 units were absorbed during this period over the last 30 years. 📈With spring and summer traditionally being strong months, net absorption is on track to hit a three-year high. April saw a significant recovery, with the average vacancy period dropping to 28 days, and new lease applications and renewals reaching multi-month highs. 📄Read Now: https://loom.ly/5NXUu40 Joel Deis David Tabata #marcusmillichap #multifamilyinvestment #cre #multifamily #commercialrealestate

“Demand momentum in the multifamily sector is surging. From January to March 2024, nearly 104,000 apartments were occupied, marking the strongest first-quarter net absorption on record. Historically, only about 12,500 units were absorbed during this period over the last 30 years. With spring and summer traditionally being strong months, net absorption is on track to hit a three-year high. April saw a significant recovery, with the average vacancy period dropping to 28 days, and new lease applications and renewals reaching multi-month highs.” Discover the full report: https://lnkd.in/eWz_CrBd

What is the law of supply and demand? With a lot of jitters and apprehension in the commercial real estate market, there are some green-shoots that are appearing. What stands out from a recent CBRE report is that recent quarters saw fewer construction starts in the multifamily sector. This will lead to fewer deliveries of new multifamily properties in 2025 and beyond. Simply put, this means that there will be less supply coming on board. The market is also experiencing high job growth and and household formation, also known as demand. High demand and low supply = increased prices. See the full report below. https://lnkd.in/dAUWMYi4

Demand momentum in the multifamily sector is surging. From January to March 2024, nearly 104,000 apartments were occupied, marking the strongest first-quarter net absorption on record. Historically, only about 12,500 units were absorbed during this period over the last 30 years. With spring and summer traditionally being strong months, net absorption is on track to hit a three-year high. April saw a significant recovery, with the average vacancy period dropping to 28 days, and new lease applications and renewals reaching multi-month highs. Discover the full report [on www.marcusmillichap.com/] If you have any questions, contact us: J.J. Taughinbaugh 📞650.391.1807 Yuri Sergunin 📞650.391.1764 #commercialrealestate #sfbayarearealestate #marketresearch #realestatetrends #industrialinvesting #industrialrealestate #cre #employment #crereport #multifamily #realestatemarket

A strong rebound in demand in Q1 2024 provided some positive news for the #multifamily sector. As noted in GlobeSt.com, the U.S. multifamily market posted rising absorption figures despite oversupply in some markets. Approximately 100,000 apartment units were absorbed in the first quarter, the highest amount since Q3 2021, according to research from Apartments.com, a CoStar Group entity. https://lnkd.in/gUFQhKua #multifamilyinvestment #multifamilydevelopment #apartments

U.S. multifamily rent growth is set to pick up pace in the latter half of 2024, according to CBRE. With new construction slowing down and a sustained positive net absorption trend, the market is poised for acceleration. The first quarter already witnessed a 0.4% year-over-year increase, bringing average monthly rents to $2,163. #RealEstate #HousingMarket #RentGrowth

🏢 📊 According to a report by Apartments.com, the U.S. multifamily market experienced a robust rebound in demand in the first quarter of 2024, with 104,000 units absorbed – the highest number since Q3 2021! 📈 Despite lingering high vacancy rates due to oversupply, rising absorption rates indicate a positive trend in the market. 🏘️ #MarketRecovery #RealEstateTrends

🏢 📊 According to a report by Apartments.com, the U.S. multifamily market experienced a robust rebound in demand in the first quarter of 2024, with 104,000 units absorbed – the highest number since Q3 2021! 📈 Despite lingering high vacancy rates due to oversupply, rising absorption rates indicate a positive trend in the market. 🏘️ #MarketRecovery #RealEstateTrends