Something ‘striking’ is happening with apartment renters

By: bitcoin ethereum news|2025/05/10 00:30:07
0
Share
copy
Renting has its benefits. It’s usually cheaper than buying a home, and it offers the freedom of moving without much hassle. That’s why about half of apartment renters in large urban markets usually move when their leases expire. But that is not happening now. The low turnover is “striking,” according to real estate analyst Alex Goldfarb at Piper Sandler. He said some of the largest landlords are seeing turnover at just 30% compared with the industry norm of 50%. He cited reasons including an unaffordable for-sale market, lack of rental supply on the coasts, nervousness about the economy and tariffs, the cost of moving and a shift to suburban apartments, which tend to be larger and more comfortable. “The consequence is landlords are getting better pricing from renewals, as people don’t want to leave,” said Goldfarb. “It also improves [their] cash flow, because of lower turnover costs.” Those costs would include repairs, painting and cleaning. As a result, in the multifamily REIT sector, Goldfarb likes Essex Property Trust , with its large West Coast footprint. Equity Residential also benefits from that regional presence. He noted the rebounds of San Francisco and Seattle, driven by artificial intelligence and tech companies like Amazon issuing return to office mandates, have helped real estate. He’s neutral on the Sunbelt, which had been a hot pandemic play. Names like Camden Property Trust and Mid-America Apartment Communities had strong performances in the first quarter of this year, but could be hit hardest if there is a recession that leads to job losses. As for the overall multifamily market, after declines last year due to record levels of new supply, rents are now coming back, up 0.9% year over year in the first quarter, according to CBRE. That is thanks to the strongest positive net absorption, or the change in the number of occupied units, since 2000 and more than triple the pre-pandemic first quarter average. It marks the fourth consecutive quarter in which demand surpassed new construction completions, and that pushed the multifamily vacancy rate down to 4.8%, below its long term average of 5%. “The first drop in vacant units in more than two years signals a crucial turning point in the multifamily sector,” said Kelli Carhart, leader of multifamily capital markets for CBRE. “This boost will lead to increased investment activity in 2025 as improving fundamentals continue to drive investor confidence capital deployment.” Source: https://www.cnbc.com/2025/05/09/housing-apartment-renters-renewals-low-turnover.html

You may also like

What Is Futures Trading? Hours, Platforms, and How to Start Trade Futures(2026 Guide)

Learn how to start futures trading, understand trading hours, and choose the best futures trading platform. Includes real data, strategies, and ways to maximize returns with rebates.

The Rise of Composable RWA

27 billion RWA funds are undergoing a major reshuffle: U.S. Treasury bonds are "cooling off," while high-yield credit assets are quietly dominating the DeFi lending market with permissionless designs. This article reveals the explosive logic behind composable RWA.

MAGA Up 350% in 24 Hours, PEPE Up 46% in One Day: Which Memecoins Are Next in 2026?

MAGA +350% in 24hrs. PEPE +46% in one day. RAVE +4,500% then -90%. In 2026's memecoin market, the gains are real. So are the traps? Here's how to tell the difference before you buy.

RCD Espanyol vs Real Madrid: Can the Pericos Delay the Inevitable?

RCD Espanyol vs Real Madrid lineups, standings, and stats for May 3, 2026. Real Madrid visits RCDE Stadium as Barcelona closes in on the LALIGA title. Full preview inside.

MegaETH goes live with an FDV exceeding 2 billion USD. Which ecological projects are worth paying attention to?

The financing and team backgrounds of many projects in the MegaETH ecosystem are rich, making it the most prosperous ecosystem among unlaunched public chains, and it is currently the focus of attention for profit-seekers.

Dialogue with "Wood Sister" Cathie Wood: The next bull market is about to arrive

The correlation coefficient between gold and Bitcoin is only 0.14. In the past two cycles, gold started before Bitcoin, and this time is no different.

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com