901RES Newsletter – January 2025
Rental Market Forecasts for 2025 After a challenging few quarters with high vacancy rates and an oversupply of rental properties, the new year should bring some needed relief. New Rental Construction Slowing Down Rental construction is expected to slow significantly in 2025. Multi-family completions are projected to drop by 20%. Rent growth is expected to pick up […]
901RES Newsletter – November 2024
Rental Trends For 2025 Zillow’s annual report on renter preferences and the market in general offers a sneak peek into the coming year The Post-Pandemic New Normal Nationally, rent rates have cooled, and even trended negative in certain markets. Nearly a third of rentals are offering some type of rent concession, which has been the trend […]
901RES Newsletter – August 2024
Memphis Rental Market Updates While many cities in the US have continued to see a strong rental market, other cities (like Memphis) are cooling down. Increased Supply Causing Drops in Rents According to Berkadia’s Q1 2024 Multi-Family report, the Downtown/Midtown Memphis submarket alone has 4,723 units under lease-up, construction, or planned. This oversaturation of available rentals has not […]
901RES Newsletter – May 2024
2024 Q2 Market Updates Here’s the long and short of it — rental properties nationwide are sitting on the market longer and leads are at a historic low. Time on the Market is at a High March 2024 was the worst March rental market nationwide since ShowMojo began tracking this data. Unfortunately, this trend is […]
901RES Newsletter – February 2024
Rental Vacancy Rate Vacancy rates on rental properties throughout the United States reached 6.6% in the third quarter of 2023. Q3 in 2022 was 6.0%, while Q2 in 2023 was 6.3%. Source However, Memphis and the surrounding areas have seen a much higher than average vacancy rate: Source This makes the average vacancy rate within […]