“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me firstname.lastname@example.org. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
REAL ESTATE | 22 hours ago | AZRE
The annual pace of U.S. apartment rent growth accelerated to 2.9 percent in the third quarter, according to real estate technology and analytics firm RealPage, Inc. (NASDAQ: RP). The bump up from 2.5 percent annual rent growth in the second quarter at least briefly reversed the pattern of slowing price increases recorded since late 2015.
A little more pricing power for apartment owners and operators reflects that occupancy inched higher in recent months. Occupancy in the third quarter stood at 95.8 percent, up from 95.4 percent in the second quarter.
“Momentum in the apartment market’s performance during the third quarter slightly surpassed expectations,” according to RealPage chief economist Greg Willett. “Still, there doesn’t seem to be a pronounced shift in the big-picture story. We are about to move into the period of seasonally slow apartment leasing that comes with the cold weather months. Demand will trail completions just ahead, making it tough for the rent growth pace to gain additional traction.”
Demand for 106,716 apartments in the third quarter well surpassed completions that totaled 83,170 units. Year-to-date in 2018, the country’s occupied apartment count has increased by 295,750 units, compared to new project deliveries totaling 232,911 units.
Metro-level rent growth leaders as of the third quarter are Las Vegas, Orlando and Phoenix. Prices climbed between 6 percent and 7 percent during the past year in each market. Rents also jumped more than 4 percent in another half dozen metros: Jacksonville, San Jose, Tampa, Riverside, Salt Lake City and San Diego.
San Jose’s return to the rent growth leaderboard ranks among the biggest shifts in momentum seen across the country of late, as the San Francisco Bay Area had experienced some rent cuts in 2016-2017. Rents also are increasing once again in metro San Francisco, where annual growth came in at 3.5 percent as of the third quarter, and in metro Oakland, now logging 2.6 percent annual price growth.
Building in the U.S. apartment sector remains aggressive. Market-rate apartment completions have totaled some 300,000 to 325,000 units annually since late 2016, and ongoing construction points to that volume of deliveries continuing at least through the end of 2019.
Near-term new supply leaders include Dallas, Los Angeles, New York, Washington, DC and Seattle. Dallas has the most product on the way, roughly 28,000 units. Adding in the 7,000 or so apartments under construction in adjacent metro Fort Worth pushes ongoing building to about 35,000 units across North Texas.
“With so much high-end new product finishing in the near term, the leasing environment will be competitive in that luxury apartment niche,” according to Willett. “At the same time, product shortages remain for moderately-priced rental housing. It’s tough to find available apartments at the middle to lower-end price points across most neighborhoods.”
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me email@example.com. …. VIEW ALL OF WALTERS LISTINGS.
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
PLEASE CALL ME 520-975-5207 OR E-MAIL ME firstname.lastname@example.org
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me email@example.com
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail firstname.lastname@example.org or call me on my cell 520-975-5207
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
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