So far this year we’ve seen that some areas continue to perform well, but the strong results are beginning to be concentrated in fewer markets. Many areas mostly held their ground but didn’t make much progress in the quarter. Read on for more on Q1 of 2019.
One important aspect of the Tax Cuts and Jobs Act of 2017 is the designated Opportunity Zones investment tool. These are areas designated by the government where tax benefits are offered to incentivize investment in low-income neighborhoods. This is sure to have an impact on multifamily in these areas in the coming years.
Almost unbelievably, another year is gone. This month we’ll be looking at how multifamily performed for the year, a region at a time. Unless stated otherwise throughout this review, all numbers will refer to conventional units. Let’s jump in!
It’s the season of giving, and in the last handful of years, the multifamily industry has been in a giving mood when it comes to new units. New supply has continued unabated from coast to coast, especially in the larger markets, and there is no slowdown in sight for some areas. This month, we take a closer look at stabilization rates for conventional properties in the ALN Tier 1 markets.
Throughout the last few months we’ve analyzed multifamily performance by market size, by price class and over different spans of time. This month, we look at year-over-year performance between nationwide conventional properties and stabilized-only conventional properties.
Market performance showed no signs of an aged cycle in the third quarter. The flood of new units continued unabated in markets across the country, with about 60,000 new units delivered in the quarter. What has changed recently compared to late 2017 and early in 2018 is demand.
As the current cycle continues to age, secondary and tertiary markets have been getting increased attention from the owner/investor side of the industry. As we approach the final quarter of 2018, let’s look at some key performance metrics nationwide for primary, secondary and tertiary markets over the last 12 months.
One of the ways to evaluate multifamily performance is to look at the usual metrics through the lens of price class rather than just by geography. This month, let’s consider the year-over-year nationwide performance of the ALN price classes—a period from July 2017 through July 2018.
2018 is over halfway done, meaning it’s time to get a pulse on the state of the multifamily markets and regions throughout the United States.
