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How AI and a changing rental market will shape property management in 2024

Housing Wire

Two complex factors are set to transform the rental market in 2024, creating new challenges and opportunities for property managers. The second is a more competitive rental market, driven by record-high construction of multifamily rental properties. At the same time, the data suggests several benefits for early adopters.

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Rethinking resident experience: Why consumer tech trends matter now more than ever 

Housing Wire

Meanwhile, there’s been a surge in the construction of new units: nearly one million new apartment units are projected to be available by 2025, according to a market analysis using data from the U.S. That means residents settle into their space more quickly while property managers have more time to spend on business operations.

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Housing Market Forecast: Unpredictable Mortgage Rates to Shake Up 2025

Appraisal Buzz

A construction boom has eased pressure on rent prices, putting rent affordability on track to improve next year—that is, as long as wages continue to grow.” Property managers are competing for renters as more multifamily apartments hit the market than at any other point in the previous 50 years. Pets deserve homes too!

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The Week Ahead: Preparing for 2025

Appraisal Buzz

Housing Market Supply and Demand: An analysis of housing inventory trends and construction pressures affecting pricing and availability. Technological Advancements in Real Estate: A look at emerging technologies with the potential to reshape real estate transactions and property management.

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Rent growth to slow further in 2024 as more inventory arrives

Housing Wire

About 900,000 units are currently under construction , and 440,000 new units are expected to be completed in 2024, according to the report. Construction completions have already peaked in Chicago, Washington, D.C. However, the occupancy rate will remain above 94%, according to CBRE’s U.S. Real Estate Market Outlook 2024. and Las Vegas.

Inventory 482
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Nonprofits Leverage ADUs to Tackle Affordable Housing Crisis

Appraisal Buzz

Nonprofits are not just addressing the demand for new housing but are also providing funding to homeowners for ADU construction. Financing ADU construction is another challenge, with nonprofits needing to secure funding from local and state governments, as well as private financial institutions.

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Single-Family Rents Climb to Record High

Appraisal Buzz

Right now, more multifamily units are hitting the market than at any time in the past 50 years, but detached homes arent seeing the same surge in construction, saidSkylar Olsen, Chief Economist at Zillow. Instead, in an effort to attract tenants, property managers are increasingly using concessions.

Inventory 370