After 20+ years in this industry (shhh, don't tell anyone I'm not in my twenties), I'm always fascinated by how quickly market dynamics can shift.
Reading about the projected starts and rent growth for Multifamily in the NAA update on 2024's apartment market and the 2025 outlook reminded me that the devil is always in the details.
Despite projected national growth, markets like my hometown of Austin are experiencing significant rent declines (nearly...After 20+ years in this industry (shhh, don't tell anyone I'm not in my twenties), I'm always fascinated by how quickly market dynamics can shift.
Reading about the projected starts and rent growth for Multifamily in the NAA update on 2024's apartment market and the 2025 outlook reminded me that the devil is always in the details.
Despite projected national growth, markets like my hometown of Austin are experiencing significant rent declines (nearly 10%!), and demand remains incredibly strong.
Year-to-date absorption is only second to the record-breaking 2021, proving once again that multifamily is about so much more than just units and national trends—it's about understanding complex economic ecosystems and the specific unique factors that impact each market.
The resilience of this market never ceases to amaze me.
What are you predicting for 2025?
(Link to the full article in the comments)
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The multifamily sector is experiencing a shift, which I'm excited about. I'm seeing many newly created executive-level positions dedicated solely to customer experience (CX) and resident support. This is a fantastic development, and it speaks volumes about the changing priorities within the industry.
Traditionally, multifamily has focused heavily on acquisition and lead generation. But with marketing softening, there's a growing recognition...The multifamily sector is experiencing a shift, which I'm excited about. I'm seeing many newly created executive-level positions dedicated solely to customer experience (CX) and resident support. This is a fantastic development, and it speaks volumes about the changing priorities within the industry.
Traditionally, multifamily has focused heavily on acquisition and lead generation. But with marketing softening, there's a growing recognition that retaining residents is just as crucial, if not more so, for long-term success.
Investing in resident engagement isn't just about amenities or social events (though those can certainly play a role). It's about creating a culture of care, responsiveness, and clear communication. It's about empowering residents and making them feel like valued members of a community.
What are your thoughts on the growing importance of CX in multifamily and the new expansion of this role at the executive level? And how are you seeing properties approach resident engagement in this evolving market?
I'd love to hear from fellow industry professionals in the comments below!
#multifamily hashtag#propertymanagement hashtag#residentengagement
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The Future of Multifamily Management: AI, Specialization, and Finding the Right Balance Blueprint Vegas 2024 Apartment Strategy Symposium (Register)Tuesday, September 17th 12:30pm- 1:15pm Over the past few years, we've seen the multifamily industry evolve in incredible ways. From high tech amenity trends to elevated resident expectations, the landscape has constantly shifted. Today, artifici ...
Brent Williams is friends with Chelsea Kneeland
Felicia Norman is friends with Chelsea Kneeland
2025 Apartment Housing Outlook | National Apartment Association
from NAHB (SF) i get 1.7MM new homes in 2025 & from of the data in MFI i see 500K MF units; is that right?