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Elevated Completions Continue to Weigh on Multifamily Rent Growth
CRE Moodysanalytics writes:
“As the Office Sector Awaits Rate Relief on the Heels of June’s Positive CPI Report, multifamily landlords await both an easing of supply conditions and operating expense stability that have been pressuring their profit margins. Regarding the latter, in the report, It Is Not All About Insurance: Navigating Through Major Expenses for Multifamily Properties, my colleagues analyzed over 3,500 apartment properties in the CMBS universe to better understand which line items have been most affected by rising operating expenses. Having said that, in terms of supply conditions, last Wednesday, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly released their Monthly New Residential Construction report for June 2024. While the results are summarized in Table 1, among the three categories, I’d like to spend some time on the completions figures before linking back to our multifamily rent growth forecast for 2024.”
To read more, please visit the article below:
cre.moodysanalytics.com
Moody's CRE | Elevated Completions Continue to Weigh on Multifamily Rent Growth
Discover the impact of elevated completions on multifamily rent growth, with updates on America's housing shortage.
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