Favorable leasing performance and improving economy setting stage for strong 2021
June 03, 2021
Leasing performance outperformed in suburban markets over the past year given the relatively more affordable rents and opportunities for extra space. Aided by broad-based rollouts of COVID-19 vaccines, recent months have seen sentiment in urban submarkets turn notably more positive. Pent-up demand for urban living is building significantly as heightened interest returns to city centers with office re-entry helping boost leasing traffic activity.
Bottoming rents at the onset of COVID, translate to promising gains in the second half of 2021 as concessions begin to taper
U.S. multi-housing transaction volume totaled $138.0 billion in 2020 and $32.0 billion in Q1 2021, representing a widening proportion of liquidity as investors continue to increase their allocations to the sector, a trend which has grown further since the onset of COVID-19.
Capital increasingly targets multi-housing; sector gains share since the onset of COVID