Category: Gulf Coast Commercial Real Estate
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Something remarkable is happening in the U.S. apartment market.
Another fantastic post from Jay Parsons chocked full of research and insights! We’ll add more new apartment supply in the first half of 2024 than we did in most FULL CALENDAR YEARS over the last three decades, and yet demand…
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Job market thawing
via Titan <—- Click here to sign up for news and articles US job openings fell in April to the lowest level in over three years as available positions decreased to 8.06 million from 8.36 million in the month prior.…
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Home sales in a slump
With mortgage rates back over 7% and home prices rising around the country, buyers have stopped coming to the table. 2023 was the housing market’s worst year for sales in almost three decades, and the trend has continued into 2024…
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The Economy, now and looking into the crystal ball…
This article and the research results were co-authored by Chartr and Rocket Mortgage. You can click on either link above to visit those companies. Through the looking-glass A recent Harris X Guardian poll made for some striking reading for those of us…
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Tampa’s High-End Multifamily Market’s Vacancy Rate Expected To Hit All-Time High
Thousands of Units Have Been Completed in Past Year By Michelle RumoreCoStar Analytics May 22, 2024 | 12:41 P.M. The Tampa multifamily market has seen a flurry of development over the past few years as developers have looked to tap into…
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Florida Governor Signs Beefed Up Live Local Act
Legislation Takes Immediate Effect, Now Includes Condos, Some Neighborhood Protections Florida Gov. Ron DeSantis has signed a bill that amends the state’s Live Local Act that passed last year with clarifications around density, height and zoning requirements. (Getty Images) By Joshua…
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Stocks’ recent win streak
Last week stocks made their longest weekly gain since February with the Dow closing above 40,000, a fresh new record, and the S&P 500 hitting 5,300. Strong first quarter earnings and early signs that inflation is cooling have sent stocks…
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When you build “luxury” new apartments in big numbers, the influx of supply puts downward pressure on rents at all price points — even in the lowest-priced Class C rentals.
“In Florida — which continues to make itself a supply magnet with strong demand + the boost from the new Live Local legislation — three markets (Fort Myers, Sarasota, Daytona Beach) are seeing Class C rent cuts around 10-12%. “…
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In 2024, Multifamily completions are outpacing new starts at the largest levels since 1975.
This research and article comes from Jay Parsons, Rental Housing Economist (Apartments, SFR), Speaker and Author. <— Click on link to see other articles and research from Jay. So far here in 2024, U.S. multifamily completions are outpacing new starts…
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