Zillow’s Post

🏢 The rental market is cooling down, and renters are reaping the benefits! With a surge in new apartment buildings, property managers are sweetening the deal with more concessions like free rent or parking. 🌟 Nearly 1 in 3 rentals now offer these perks, giving renters more options and better affordability. Rent growth is slowing too, making it a bit easier to keep that budget in check. 💸 #RentalMarket #RentConcessions #AffordableLiving #HousingTrends #RealEstate

The divergence in single-family and multifamily rent growth, as told by one chart According to Zillow: U.S. single-family rents rose +5.0% YoY U.S. multifamily rents rose +2.7% YoY https://lnkd.in/gJbB6QVT

📉According to the Zillow Renter Demand Index, a measure of rental market tightness, has fallen by 23.3% since last July❗️Which is mostly due to an increase in the supply📈This has not translated into much rental price reduction though‼️Are you interested in understanding what it means for you whether you are selling or buying❓Then reach out for us to discuss it in detail📞 #yannfard #realtor #realtorlife 🏡 🏡 🏡 #realestate #realestatebroker #realestateadvice #thehelpfulagent #home #houseexpert #house #househunting #dontwait #workwithyannfard #buywithyannfard #sellwithyannfard  #investment #dreamhome #friday #fridayfeels

Unexpected markets are stealing the rent growth spotlight – though nationwide, concessions are still hanging around 33%. Zillow Rental Trends Expert Emily McDonald has the details on which cities have rising rents (and why this change is happening) in the latest Rental Market in a Minute. For full data and details, check out the June Rental Market Report: https://lnkd.in/eatRMmG7

The biggest thing is know your market before you renew your lease.

If you haven’t read our Q2 Multifamily Marketbeat report, here are the 5 things you should know: 1. 💹 Vacancy Rate: Vacancy rate increased to 8.48%, up 0.25% from Q1 2024. 2. 🏗 Inventory: Tucson’s multifamily inventory increased by 141 units. 3. 💸 Rental Rate: The average rental rate for an apartment unit is $1,185 per month, with stable renewals and increases of 2-5%. Renters are willing to pay more for desirable amenities. 4. 🏡 High Demand, Low Supply: Demand continues to exceed supply for well-priced multifamily properties, with multiple offers received. 5. 🔮 Outlook: Neutral for the remainder of 2024; tenant retention is key! To read our full report visit: https://lnkd.in/g6cdTcJk #Tucson #CRE #Multifamily #Apartments

Apartment Rent Growth Ticks Up Slightly in July as US Multifamily Demand Stayed Strong In July, national apartment rents grew slightly by 0.1% (10 basis points), reaching an annual growth rate of 1.2%, as rental demand stayed strong. Over 60,000 units were absorbed in July, suggesting that the third quarter could surpass the second quarter’s absorption of 166,000 units. This demand kept the national vacancy rate stable at 7.8%, despite 5,000 more units being absorbed than delivered. Louisville, Kentucky, led rent growth among the top 50 U.S. markets, with a 4.3% increase year-over-year, driven by balanced supply and demand, especially in Midwest and Northeast regions. Notably, San Jose, California, saw a significant rent growth spike from 2.8% to 3.4% in July, rebounding from a decline a year earlier. San Francisco also experienced a notable rent increase from 1% in June to 2% in July, reversing a trend of falling rents earlier in 2023. Conversely, Austin, Texas, saw a 5.1% rent decline over the past year, with other Sun Belt markets like Raleigh, Jacksonville, Phoenix, and Atlanta also experiencing rent decreases, indicating ongoing supply-demand challenges in these regions.

April brought exciting trends in Langley’s real estate market, with an influx of new listings and stable prices, especially for homes with suites. Buyers, take advantage of the high inventory to find the perfect home that offers additional income potential! Sellers, now’s the time to refine your strategy. We're eagerly awaiting a bustling summer as interest rate cuts loom. Stay tuned for more updates! https://lnkd.in/g-uGHm_d #MarketTrends #LangleyRealEstate #HomeBuying #SellerTips

Duplex CLOSED! When this hit the market, we immediately knew it was a great deal. Why? A few different factors: 1. Age: 2003 (average age of small multifamily in Reno is 1948) 2. Unit mix (both sides were 3 bed 2 baths, which is rare) 3. Garages (each had a 1 car garage w/ plenty of storage) 4. Rents (solid rents with upside, especially for the price) 5. Price per square foot (this was less expensive than a lot of comparable properties that were much older and in much worse condition) We were able to secure the property in a multiple offer situation. Want to know how to navigate small multifamily properties like a pro? Schedule a strategy session with me today: ➡️ https://lnkd.in/gBWxaDmd 📍 319 Soaring, Fernley, NV 89408 🏢 2 Units Multifamily 💲 $220,000 per unit 📊 6.05% Actual Cap Rate 📈 7% Pro-Forma Cap Rate 💰 $2,218 Income/Month

Rental Prices Continue To Fall in 2024, but Just Barely Contact me to discuss the latest scoop in real estate! #realestate #realtor #dreamhomes #homebuyers #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting #housingmarket