Markets
From occupancy to cap rates, employment to migration trends, read the latest market-driven insights.
The Beyond Insights series aims to deliver timely economic and market-driven insights to better inform your commercial real estate investment decisions.
From interest rates to inflation, understand the impact of macroeconomic trends on the real estate capital markets.
Lease-up velocity
May 2023
After two years of elevated demand, the once scorching-hot multifamily market is showing signs of cooling down. More than 95,000 new units were delivered nationally in the first quarter of 2023. At the same time, approximately 19,200 units were absorbed in the first quarter.
Even so, vacant apartments were filled almost one week faster compared to one-year prior, and more people were applying for the same rental. According to a RentCafe report, eight renters are competing for vacant apartments this year compared to 11 last year.
AVERAGE VACANT DAYS
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RISING SINGLE-FAMILY RENTAL AND BUILT-FOR-RENT MARKET
April 2023
Despite fluctuating interest rates over the past year, housing demand has continuously exceeded the amount of available supply on the market. Given the strong housing demand and temperamental economy, homebuilders continue turning to built-for-rent (BFR) options.
The new BFR product is considered safer and better performing as the industry accommodates people who are choosing to rent rather than buy. BFR is among the fastest-growing and best-performing asset classes within commercial real estate. Of the 47 million renters across the nation, 32 percent live in single-family rental properties.
U.S. HOUSEHOLD RENTER POPULATION
Beyond Insights: Markets
From occupancy to cap rates, employment to migration trends, read the latest market-driven insights.
Questions? Contact us.
Robert Gutierrez
Senior Director
National Research
robert.gutierrez@berkadia.com
Aaron Royster
Associate Director
of Research
aaron.royster@berkadia.com
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