Austin’s Nation-Topping Population Growth Mitigates Long-Term Supply Wave Impact Growing millennial and Gen Z populations backstop demand. Similar to last year, an incoming supply wave will place upward pressure on vacancy as new units are added at an elevated pace. In 2023, the metro is set to record its highest year-over-year inventory change since at...Read More
Orlando Solidly-Positioned to Weather New Supply as Standout In-Migration Provides Momentum Robust household formation guides metro through flux period. Far from March 2022’s low, vacancy has more than doubled over the past 12 months. Up to 5.2 percent in April, further rises are likely, as the metro welcomes a record volume of deliveries. Supply pressures...Read More
Economic Development Incentives Bring New Firms to West Palm Beach, Spurring Rapid Net In-Migration Influx of new residents drive unprecedented rent gains. Since 2019, West Palm Beachhas led all major South Florida markets in population growth, gaining more than 55,000new residents. Initiatives from the Business Development Board of Palm Beach Countyspurred many corporate relocations and...Read More
Public-Private Initiatives Help Metro Weather Inbound Headwinds as Multifamily Performance Moderates Public sector and related employers mitigate demand hurdles. Due to a high concentrationof recession-resistant industries, San Antonio is uniquely poised to withstand aneconomic downturn. Aside from a plethora of state government organizations, the regionboasts a substantial national defense sector — including a regional NSA...Read More
In-Migration and Challenging Homeownership Environment Mitigate Apartment Supply Wave’s Pressure Barriers to buying a home to help moderate vacancy decompression. In 2023, the metrois expected to see the sixth-largest volume of new residents among major U.S. markets, supportingthe local labor force. Even with some companies rebalancing staff counts amid economicturbulence, higher-wage personnel from Austin’s growing...Read More
Favorable Living Costs, Tourism Backbone and CorporateRelocations Fortify Demand-Supply Balance Desirable living conditions keep rental market leveled. Completions will elevate in2023 as last year’s postponed projects populate the pipeline. An above-average period ofsupply additions will help bring the market back to equilibrium, even with the strongerdemand for rentals expected this year. Robust population growth is...Read More
ATLANTA A lot can happen in a year. This time a year ago, the 10-year Treasury yield was at 1.489 percent, the federal funds rate was at a range of 0 to 0.25 percent and SOFR was at 0.05 percent. As of this writing, those three benchmark interest rates are at 3.527 percent, 3.75 to...Read More
