Wow, what a summer so far. I have never experienced such an exciting time in Real Estate. Swarms of buyers are jumping head first into the market, particularly first timers. This rebound shows the strongest activity since the recession and foreshadows a bright future f...
Contrary to prior predictions the rental market has not simmered. In fact, we're still experiencing a rapid boil. Developers will be adding more than 3,000 units this year and nearly another 5,000 in 2016. That's more per year than we have seen in the last 15 years.
Ok, to be fair, rentals have always been seasonal. However, this fall buildings have seen less foot traffic and subsequently less rentals, causing them to increase concessions and incentives or simply lower rents to lure more prospects and appease their investors.
Despite many predictions of a glut in inventory from a recent building boom the rental market is chugging along breaking records. High-end class A buildings are now at $2.87/sqft, up 5.3% from this time last year. Why?