Multifamily Executive

6 days ago | multifamilyexecutive.com | Christine Serlin

Courtesy Wood Partners Ben Hill in southwest Atlanta will comprise 236 attainable apartments. After launching its attainable housing brand a year ago, multifamily developer Wood Partners has expanded its efforts in the Southeast. In the first quarter, the developer started construction on three communities in Atlanta; Nashville, Tennessee; and Palmetto, Florida.

1 week ago | multifamilyexecutive.com | Christine Serlin

The multifamily industry’s record supply wave continued in the first quarter, with 116,092 market-rate units delivered over the last three months. According to RealPage’s first quarter analysis, this is on par with the prior quarter’s record high. Demand also continued to surge as 138,302 units were absorbed in the first quarter. RealPage noted this was the highest first quarter reading ever recorded in its 32-year data set.

1 week ago | multifamilyexecutive.com | Leah Draffen

At $1,695 in March, the median asking price for rent in the 50 largest metros is now $65 lower than the 2022 peak, according to the Realtor.com March Rent Report. Although rents have been declining for 20 consecutive months, new tariffs could have impacts on areas where permitting activity is growing the fastest. The impact could threaten rent declines.

1 week ago | multifamilyexecutive.com | Christine Serlin

Multifamily buyer and seller sentiment improved for both core and value-add assets in the first quarter, according to new research from CBRE. For core assets, buyer sentiment increased to 65% positive from 44% in the fourth quarter, while seller sentiment became less negative with 67% neutral sentiment versus 57% in the fourth quarter. For value-add assets, buyers only had slightly improved positive-to-neutral sentiment, while sellers saw a higher concentration of neutral sentiment.

1 week ago | multifamilyexecutive.com | Leah Draffen

Now at the five-year anniversary of the COVID lockdowns, work still looks much different for many employees. Despite some return-to-office notices, remote work and hybrid schedules continue to dominate, and multifamily properties have had to accommodate this new way of life for many residents. The business centers of pre-pandemic times don’t quite fill the need as work-from-home employees now require more than a conference room or makeshift common lounge area.