Several Southeast markets continue to top national lists for job and population growth, causing investors to pour capital into the region’s multifamily sector as they chase a new wave of demand that’s driving the current market expansion.
ARA and Berkeley Point Capital’s 2Q 2018 United States Multihousing Market Report includes several Southeast hubs among its top 25 for sales volume in the past 12 months: Atlanta ($7.3 billion); Orlando, Fla., ($5.6 billion); South Florida ($4.5 billion); and Charlotte/Raleigh–Durham, N.C., ($4.2 billion).
The Southeast also notched the largest per-unit pricing gains of any other region, at 8.6% year over year. Additionally, its key metros benefit from migration fueled by high income-tax–rate states, including New York, New Jersey, Connecticut, and California.
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Source: Multifamily Executive