Vacancies Could Reach Record Levels, Topping a Recent Peak in 2017 State of the Market Video: Coronavirus Will Likely Play Havoc With Apartments Vacancies Could Reach Record Levels, Topping a Recent Peak in 2017 By John DohertyCoStar NewsMarch 25, 2020 | 02:34 P.M. Expect U.S. apartment vacancy rates to hit record highs, CoStar’s experts say. The wave of new properties scheduled to be finished up in...
The purpose of this article is to share with my clients news and resources I'm currently reviewing to stay abreast of the current market. Below I've provided a summarized version of each resource along with a link to the full article/reports from JLL and Marcus & Millichap along with charts from CoStar research. For more information, rental rates, renovations, leasing,...
APRIL 16, 2019|JOSHUA OHL Costar Market Insights: University Town Center Remains the One Area Where Apartment Rents Continued to Trend Lower During the First Quarter According to CoStar's daily rent chart, apartment rents in San Diego started to pull back before the end of August after reaching the year's zenith. After average apartment rent growth declined throughout San Diego in the fourth quarter...
SB-828 Land use: housing element 2017-2018 On Sunday the 30th, Governor Jerry Brown signed Senate Bill 828 requiring local governments to accommodate 100% of the the projected local housing need, in other words, if the city projected 2,000 people to move in to the city for 2019, they would need to accommodate and zone new construction projects to accommodate 2,000 people. In...
Data Courtesy of the California Association of Realtors (r) July 2018 [caption id="attachment_16499" align="alignnone" width="727"] California Home Sales[/caption] Home sales in California declined for the third consecutive month, 406,920 units, down 1.4% YTD and down 3.4% YTY. Southern California homes sales bounced back in July. [caption id="attachment_16500" align="alignnone" width="730"] Southern California Home Sales Bounced Back in July[/caption] Home sales in California declined in every segment under...
Below are some highlights from Freddie Mac's May housing report Gross Domestic Product (GDP) grew at an annualized rate of 2.3 percent in the first quarter of 2018, down from 2.9 percent in the fourth quarter of 2017 Consumer spending growth lowest in 5 years Economy added jobs for 91 consecutive months 3.9% unemployment rate Hourly earnings increased 2.6% year...
The California Association of Realtors came out with their 2018 California Economic and Market Forecast this month presented by Leslie Appleton-Young, Chief Economist of CAR. The report mostly covers data they have received and compiled up until the end of 2017. The report starts out with nice break down of trends, most notably the median home price of $502k in 2016...
In today's post I've added info from C.A.R. Research and Economics on the monthly housing outlook. As apartment building investors in San Diego County it's important to keep an eye on what's happening in the single family housing market and be on the look out for trends or signs in a shift in apartment buildings. Generally speaking, the more affordable houses...
The topic today is to increase rents or not increase rents, that is the question. I've met with and spoke to many apartment building investors, in both rent controlled and non-rent controlled neighborhoods, that have decided not to raise rents over the years for a multitude of reasons. Some reasons I've heard of why not to raise rents are: I really...
Impact of Rising Interest Rates on Your Apartment Building Thinking of selling your apartment building in the next few years? Thinking that rising interest rates won't effect the value of your commercial real estate? Holding out for the market to go even higher? Or are you just holding on forever and will let your kids deal with it. Maybe your apartment...