As the housing market continues to falter, multifamily data indicates that demand for property rentals and leases are on the rise across the U.S. This could spell good news for managers and owners of these properties as supplies of affordable homes for sale remain flat and begin to dwindle this fall. Families in the market for a new home may have to wait for lower prices, which generally means an increase in demand for apartments and other rental properties.
Interpreting the Latest Multifamily Data
Examining leasing agent data and recent research is helpful in determining the appropriate pricing points and marketing strategies for your apartment complex. By combining this information with a working knowledge of the greater real estate marketplace, you can manage your properties more effectively in a wide range of market conditions.
Currently, the residential real estate marketplace is slowing down. This specifically means that single-family homes are becoming scarce. This is likely to drive up prices in areas that are experiencing limited supply and high demand. CoreLogic recently published a survey indicating that home prices are expected to increase by more than five percent by May 2020.
Scarcity of affordable homes leads directly to increased demand for rental and lease properties. As a result, it is critical to integrate your apartment data research with a larger view of the marketplace to achieve the best insights into rental conditions in your area. This will allow your apartment complex to target its marketing and position itself properly for future growth and profitability in your local area.
The Right Tools for Apartment Complex Managers
Finding the time to stay current with developments in the residential real estate marketplace is often a real challenge for busy apartment managers. Working with a company that offers targeted information designed specifically for the multifamily rental and leasing industry is a solid step toward compiling the data you need to price your units appropriately, to determine the best amenities and to maintain your reputation in the rental marketplace.
The experts at ApartmentData.com offer access to multifamily data and information for apartment complex managers, rental property owners and other companies and individuals involved in the real estate rental and leasing industry. Our research tools and dashboard interface make it simple to create marketing tools and to check on the latest data for your area and your niche of the real estate market. Call us today at 1-800-595-8730 to schedule a demonstration of our system. At ApartmentData.com, we are here to serve you.Multifamily Data Predicts Higher Demand for Rentals as Housing Market Winds Down