Could central business district multifamily performance be the canary in the coal mine for primary markets? How have eviction moratoriums, rising construction costs, and supply issues impacted the multifamily proeprty market? What should multifamily investors expect in the future for performance and cap rates? These questions and others related to investing in apartment/multifamily properties are addressed in this 23 minute video featuring Carl Whitaker, Senior Manager, Market Analytics at RealPage, a provider of property management software for the multifamily, commercial, single-family and vacation property markets.
Among the more stunning facts in this video is the new lease trade out number (the difference in rent a new occupant of a unit is paying versus the prior tenant) of 20% this last August. Not only is this a eyebrow raising number, it follows already strong double digit trade out numbers throughout the summer.