We’ve identified a leasing and occupancy trend that proved true once again in 2023. The spread between the leased percentage and the occupancy rate has peaked in the last week of July or the first week of August each of the past 5 years.
Over the past three years, one of the steadiest and best performing markets nationwide has been San Diego. The Southern California metro did not experience as significant of a decline in housing demand and rents seen in Los Angeles and San Francisco in the early days of COVID-19, but the metro had a very strong recovery in 2021 and 2022.
Fed Chair Jerome Powell gave a very middle of the road speech last week at the Kansas City Fed’s Jackson Hole symposium. The leader of the central bank acknowledged that tightening monetary policy has had its desired impact on inflation, but also warned that inflation may come back, thus warranting further interest rate increases.
As we approach the end of the third quarter, we typically start to see a drop off in occupancy across the country. That down trend has already begun, and in some markets goes all the way back to late 2021.
Over the past three years, one of the steadiest and best performing markets nationwide has been San Diego. The Southern California metro did not experience as significant of a decline in housing demand and rents seen in Los Angeles and San Francisco in the early days of COVID-19, but the metro had a very strong recovery in 2021 and 2022.
Fed Chair Jerome Powell gave a very middle of the road speech last week at the Kansas City Fed’s Jackson Hole symposium. The leader of the central bank acknowledged that tightening monetary policy has had its desired impact on inflation, but also warned that inflation may come back, thus warranting further interest rate increases.
As we approach the end of the third quarter, we typically start to see a drop off in occupancy across the country. That down trend has already begun, and in some markets goes all the way back to late 2021.
Boston, like many of its northeastern peer markets, is known for its older apartment stock and higher percentage of single-family homes compared to secondary markets in the south and west. However, as the market is known for innovation, it’s apartment market has grown and evolved quickly over the past few real estate cycles.
Single Family Build to Rent (BTR) homes are one of the fastest growing property sectors within residential. Demand in recent years has been elevated both from a demographic perspective as well as a result of COVID and the demand for more space.
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