Friday, June 17, 2022

JPMorgan Chase 2022 Midyear Commercial Real Estate Outlook

 JPMorgan Chase Head of Commercial Real Estate Al Brooks published his mid-year outlook for multifamily real estate this month, noting that rising single-family housing prices and mortgage rates have led renters to stay in their homes longer. 

“Performance metrics remain tight, with asking and effective rents posting near-record highs in the first quarter of 2022. The new record is 8.1% effective rent growth in the third quarter of 2021 — more than three times the prior record of 2.4% set in the third quarter of 2001.” 

Brooks also notes that demand for workforce housing is likely to remain strong as demand for affordable housing trails national supply. 

"There can be upfront costs to modernize dated apartment units. However, the demand for these units may outweigh those minimal costs."

Read more at JPMorgan.com

No comments:

Post a Comment

Thanks for your comment! It has been sent to the moderator for review.