With so many new apartments being built across the country, the cities that have had the most new construction over the past five years show how the next wave of new apartments now under construction might be absorbed.
The student housing business faced declining college enrollment in 2014. At the same time, developers finished more purpose-built student housing properties than ever before. But these new student housing communities leased up very quickly anyway.
Thousands of California multifamily properties may soon become more energy efficient, thanks to new plans there to make Property Assessed Clean Energy (PACE) financing available to affordable housing properties.
Investors are buying fewer single-family homes, according to data firm RealtyTrac’s 2014 U.S. Institutional Investor & Cash Sales Report. However, many investors continue to buy and seem committed to the business of renting out their portfolios of single-family homes.
More renters meant more profits for multifamily REITs, which provided tremendous returns to their investors over the last year. The outlook for REITs is also good, with demand expected to stay strong for the foreseeable future, according to NAREIT, improving demand from investors.