openPR Logo
Press release

Rhode Island Multifamily Market Update August 2020

09-17-2020 05:23 PM CET | Industry, Real Estate & Construction

Press release from: CommercialSold.com

The Rhode Island Market continued to see strong pricing growth in the Multifamily Market for August with another double digit increase. Median Multifamily Pricing was up to $310,000 and inventory is still moving swiftly, with the days on market seasonally inline at 47 days.

A lack of single family housing supply has pushed some of that demand into the Multifamily market, coupled with all time low interest rates has kept demand relatively strong throughout the COVID-19 pandemic.

Sold volumes are still down against 2019, with a 27.1% decline in July followed up by 10.7% decline in August and inventory remains low with only 2.5 months of supply currently on the market. Properties submitted at market pricing are receiving multiple offers within days, though the wave of refinancing has cascaded into longer than usual closings.

On the rental side, The National Multifamily Housing Council is also signally some stress in their Rent Payment Tracker showing a 2.4% decline year on year as of Sept 13, and another 0.7% versus August 13. With the expiry of full federal assistance from the Cares Act starting August , this may be the first month we are seeing the impact of the reduced subsidy, and the impacts being experienced by tenants.

For further information and source data, please visit;

https://www.commercialsold.com/Landlords/multifamily

CommercialSold.com
2 Charles St, Suite 3C
Providence RI 02904

All inquiries attn:
Christopher Lowe
+1-(401)-252-0000

The Commercial Sold Group is part of Keller Williams Leading Edge Commercial Rhode Island providing real estate services to the Rhode Island market, focused on Multifamily, Office and Industrial property.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Rhode Island Multifamily Market Update August 2020 here

News-ID: 2136441 • Views: 647

More Releases for Multifamily

Multifamily Modular Construction Market Development Activity Ahead - This Could …
The latest 126+ page survey report on Global Multifamily Modular Construction Market is released by HTF MI covering various players of the industry selected from global geographies like North America (Covered in Chapter 9), United States, Canada, Mexico, Europe (Covered in Chapter 10), Germany, UK, France, Italy, Spain, Russia, Others, Asia-Pacific (Covered in Chapter 11), China, Japan, South Korea, Australia, India, South America (Covered in Chapter 12), Brazil, Argentina, Columbia,
A CXO’s Guide to Scaling Multifamily Marketing and Operations Kindle Release
• Multifamily is overly reliant on labor-intensive workflows for marketing and operations. This critical bottleneck is preventing property management companies from scaling. • A Humans + Machines workforce removes that bottleneck enabling multifamily to scale. • Hy.ly’s ebook A CXO’s Guide to Scaling for Multifamily Marketing and Operations explores what a Humans + Machines workforce is, how it can help your property management company scale, and how you can implement it. Ashburn,
CapitaLand acquires portfolio of 16 multifamily properties in the United States …
Acquisition marks the Group’s foray into multifamily asset class Singapore, 18 September 2018 – CapitaLand, through its wholly owned international business unit CapitaLand International, has acquired a portfolio of 16 freehold multifamily properties1 for US$835 million (S$1.14 billion2) in the United States (U.S.). It marks the Group’s foray into the country’s multifamily asset class to ride on the growing demand for long-term rental housing. The portfolio comprises 3,787 apartment units, all
Multifamily and HOA Property Management Software Market Professional Survey Capa …
Multifamily and HOA Property Management Software Market Overview: The Global Multifamily and HOA Property Management Software Market Size, Status and Forecast 2022 is a professional and indepth study on the current state of the Multifamily and HOA Property Management Software market. Annual estimates and forecasts are provided for the period 2018 through 2022. Also, a sixyear historic analysis is provided for these markets. The Multifamily and HOA Property Management Software industry was
Multifamily Insiders and Apartment All-Stars Announce “Average People SET Goal …
Houston, Texas (February 15, 2012) – Multifamily Insiders has announced a new partnership with the Apartment All Stars to create educational and motivational webinars for the apartment industry. Multifamily Insiders and Apartment All-Stars are two of the most respected sources for up-to-the minute property management trends. Industry expert Terri Norvell will present our next Webinar “Average People SET Goals, Extraordinary People ACHIEVE Them!”, which will take place on February 22nd
Multifamily Insiders Announces Premium Webinar Featuring Jackie Ramstedt
Houston, Texas (March 31, 2011) – – Multifamily Insiders has announced the latest event in its free webinar series, featuring Jackie Ramstedt, titled “Team Building – In It To Win It”. The webinar, sponsored by Discover True North and RentMineOnline, provides strategies and advice on how to create strong, productive teams with individuals eager to learn and grow, no matter what position they hold. On site, corporate, or upper