New from MPF Research: Bay Area Rent Growth, Student Housing Lease Incentives, SoCal Jobs
MPF Research provides actionable market research to apartment investors and operators. Here’s the latest from RealPage’s multifamily intelligence division.
San Francisco, San Jose likely to see rent growth return in 2Q
Pricing power in the Bay Area appears to be strengthening – particularly in San Francisco and San Jose, where operators had reigned in their pricing strategies over the past year.
In a new post, MPF Research examines employment and development trends influencing rent growth and overall multifamily fundamentals in the Bay Area, and looks ahead to future market performance.
Student housing giveaways are climbing to incentivize leasing
Student housing operators are offering fall 2017 incentives like cruises, gift cards and concert tickets at a rate more than double that of the same season in 2016, according to a new report from Axiometrics, a RealPage company.
In the report, Taylor Gunn, student housing analytics lead for Axiometrics, explores data relating to giveaway type and the relationship between leasing velocity and giveaway value.
Southern California employers pull back on hiring
Several major U.S. markets saw hiring pullback in April 2017, but the trend was especially evident in Southern California.
Data from the Bureau of Labor Statistics show each of the region’s major metros registered slowed job growth levels over the last year. The deceleration follows strong growth that had occurred across Los Angeles, Orange County, Riverside/San Bernardino and San Diego.
Within some of the affected metros, much of the slowdown could be attributed to specific employment fields. In Los Angeles, for instance, the Motion Picture and Sound Recording Industries subsector cut more than 13,000 positions in the year-ending April 2017. The subsector had registered notable gains in the prior year.
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