New from MPF Research: Hiring Stumbles in Phoenix, Austin; Supply Surges in Charlotte
MPF Research provides actionable market research to apartment investors and operators. Here’s the latest from RealPage’s multifamily intelligence division.
Will Phoenix’s Recent Hiring Stumble Interrupt Strong Development Activity?
Following years of healthy employment momentum, Phoenix saw job growth stumble at the end of 2016. Given the robust pace of new construction, a continued deceleration of hiring could influence market performance.
Still, the job sectors of Information and Education/Health Services have experienced noteworthy growth in recent years, and many companies have announced plans to establish an area presence.
An interactive report explores whether such factors are enough to support inventory expansion, and stacks Phoenix against Sun Belt metros Atlanta, Dallas, Houston, Las Vegas and San Diego.
Slowed Job Growth Challenges Austin Fundamentals
While Austin has long been a leading job creator, metro employment growth has started to slow. Paired with an oncoming supply wave, sluggish hiring could test market fundamentals.
Annual rent growth, which rose above 7% in 2011, dropped to a six-year low in 4th quarter 2016. Still, the capital city has maintained solid occupancy levels and surpassed some recent expectations.
In a new Austin outlook, MPF Research weighs signs of market stress and examines the role factors like infrastructure, cost of living and demographics play in the capital city.
Can Charlotte Sustain Strength as Supply Surges in 2017?
While Charlotte’s strong demand drivers have allowed the metro to work sufficiently through new apartment stock in the current economic cycle, 2017 brings a year-over-year spike in scheduled delivery volumes. Can Charlotte’s performance drivers withstand an increase in supply? MPF Research economists discuss the outlook in Apartment Market Dynamics.
For the latest multifamily market insights, visit MPF Research.