Occupied apartments climbed by nearly 147,000 units, outpacing absorption in the second quarter by more than four times. Even more promising, demand in Q3 increased by 8% year-over-year.
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A pair of recent reports, one from CoStar and another from Real Capital Analytics (RCA), show that multifamily property continues to see price increases despite the pandemic.
Multifamily deals are seeing a surge right now, despite COVID challenges. Multifamily investors need a good formula to make the due diligence go smoothly.
Rent debt improved slightly in September as the economy has continued to improve and add back jobs.
Although occupancy has fallen in both urban and suburban areas since the pandemic started, the impact has been more pronounced in the urban areas.
The pandemic immediately impacted apartment leasing activity, but about six weeks into the pandemic, leasing activity rebounded to normal levels.