2019 is history! Are you wondering how Multifamily properties did in 2019.
Here is a quick analysis on how investors played an important role to this game!
According to YardiMatrix , In 2019, more than 320,000 multifamily units were absorbed into the market, or rented.
That absorption was short of the cycle peak of 377,000 in 2016, but 2019 marks the sixth straight year with at least 250,000 units absorbed.
Seattle, Denver and Dallas topped the absorption list, with Washington, D.C., Houston and Austin, Texas also having strong years.
“Fundamentally, occupier demand is strong, and rents continue to grow
in most segments,” the report said. “Meanwhile, property values are at all-time highs and debt markets are functioning smoothly, with healthy deal flow and few delinquencies.”
YardiMatrix found that the average rent in November went down $3 to $1,473, but rent was still up 3.1% over the same month last year