New from MPF Research: LA Supply, Salt Lake City Rents, Top Metros for Jobs and Permits
MPF Research provides actionable market research to apartment investors and operators. Here’s the latest from RealPage’s multifamily intelligence division.
Spike in new deliveries threatens downtown LA performance
Development in Downtown Los Angeles is around three times the long-term average, and the growing supply volumes are testing the submarket’s ability to digest large amounts of new product. What does the supply wave mean for future performance?
Forecasting the shape of downtown fundamentals, a report from MPF Research analyzes the unique situation in Downtown Los Angeles, a largely unproven submarket during this cycle.
Declining metro-level permit volumes bring down national numbers in July
Major shifts in July’s metro-level apartment permit volumes translated to a decline in national authorizations.
For the month, New York reclaimed its top spot, as the previous month’s leader, Austin, fell from the standings. Six metros were introduced to the top 10 markets for multifamily permits.
Meanwhile, on July’s annual leaderboard, eight metros reported year-over-year increases.
Salt Lake City ranks in top five major metros for rent growth in mid-2017
Salt Lake City has experienced an acceleration of rent growth, landing on the leaderboard in 2nd quarter 2017.
What influence do elevated supply volumes, submarket-specific performances and asset classes have in Salt Lake City? New findings from MPF Research explore these contributing factors.
Employment growth cools in July
National job gains cooled slightly in July, with U.S. employers adding roughly 2.1 million jobs in the year-ending July 2017. That figure grew the country’s job base 1.5%, according to preliminary data from the Bureau of Labor Statistics.
New York, Atlanta and Dallas led for actual gains, while a handful of Florida metros, pre-Hurricane Irma, led the Top 10 growth markets.
For the latest multifamily market insights, visit MPF Research.