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Are Housing Demand and Supply Set on Diverging Courses?

October 21, 2021 by Dennis McGill

One of the critical conclusions expressed in our recent thematic demographic report, Cradle to Grave, was that “the seeds of oversupply are being planted.” In an environment where the widely-accepted belief is that there is a housing shortage, the statement has naturally drawn skepticism.

Filed Under
apartments build-for-rent demographics homebuilding housing starts macro housing supply

What Might Plunge in Multi-Family Operator Sentiment Mean?

April 23, 2020 by Zelman & Associates

Like most businesses, multi-family operators and developers are navigating unprecedented conditions resulting from COVID-19, led by uncertainty related to rent collections, spiking unemployment, capital availability ...

Filed Under
apartments survey

Public Apartment REITs Post Solid Growth, but Monitoring Signs of Moderation

November 15, 2019 by Zelman & Associates

The seven public apartment REITs included in our equity research coverage owned almost 440,000 units as of 3Q19. For the 88% of units categorized in the same-store pool, revenue expanded by 3.4% ...

Filed Under
apartments stocks

Residential Construction Warning of Nearing Recession?

August 23, 2019 by Zelman & Associates

Through the first seven months of 2019, residential construction for single-family and multi-family projects has trailed the prior-year period across the board. Specifically, single-family permits and starts are both down 3% while multi-family ...

Filed Under
apartments homebuilding macro housing

Homeownership Rises Again as Single-Family Living Taking Share

November 02, 2018 by Zelman & Associates

Over the last year, multi-family starts have accounted for 29% of all starts, close to the decade-to-date share at 31%. With this being notably higher than 20% in the 1990s and from 2000-09, clients often inquire as to whether we believe this ...

Filed Under
apartments homeownership single-family rental

Apartment Executives’ Sentiment Index Indicates Further Softness in Trends

February 23, 2018 by Zelman & Associates

Once a month, we survey private multi-family operators, developers, brokers and lenders to gauge fundamental trends across the sector. Our survey covers roughly 1.5 million institutional-quality units and developers that accounted for 9% of ...

Filed Under
apartments survey

Despite Millennials, the Strongest 20-34 Aged Population Growth in Rearview Mirror

November 03, 2017 by Zelman & Associates

According to the Census Bureau, there were approximately 249 million adults in the United States as of its last population estimates in July 2016. Versus the prior year, growth in the adult population measured slightly less than 0.9%, the weakest ...

Filed Under
apartments demographics millennials

If Young Families Want Urban Living, is the Right Product Being Built?

September 22, 2017 by Zelman & Associates

We are of the opinion that while young adults are waiting longer to get married and form families relative to prior generations, there still exists a strong pull to the suburbs and single-family homes once they reach this point of their life, ...

Filed Under
apartments demographics

Fed Senior Loan Officer Survey Does Not Tell Entire Story on AD&C Lending

August 11, 2017 by Zelman & Associates

Last week, the Federal Reserve published its latest Senior Loan Officer Opinion Survey with the goal to “provide qualitative and limited quantitative information on credit availability and demand.” As it relates to residential real estate capital ...

Filed Under
apartments construction lending homebuilding

Single-Family Rentals Emerging from Apartment Shadows

June 30, 2017 by Zelman & Associates

Our proprietary survey of single-family rental owners and managers dispersed across the country suggested further fundamental improvement in May. Overall, single-family operators continued to experience strong renter demand and pricing power ...

Filed Under
apartments single-family rental survey