Southeast Real Estate Investment Market Report: July 2020
How to attract Generation Z renters. Each generation has its own quirks. Gen Z is no different and appears to be more practical than others. While we’ve seen that some generations are happy to rent forever, Generation Z sees it as a stepping stone. In fact, 97 percent of them want to buy a home someday. Now, most of them won’t leave their parents’ home and immediately buy a house. This means you still have a chance to reach them. With this in mind, let’s cover how multifamily operators can reach Gen Z where they are spending most of their time – online.
Continue ReadingMarket Activity
Atlanta’s housing market experienced a 25.8 percent decline in sales for April compared to last year. In addition, new listings dropped 32.2 percent compared to April 2019. According to Norada Real Estate Investments, sales in the 11 counties that make up Atlanta’s metro area dropped 37 percent in May. This drop was steeper than the 25.8 percent drop in April. Yet, the median sales price increased by 0.3 percent in May, up to $291,000.
Market Activity
According to Colliers International, a significant amount of sublease space is currently available in Charlotte, with almost half a million square feet coming onto the market since Q1 2020. Approximately 450,000 square feet of this space has come onto the market since COVID-19 lock-downs began, and could remain through Q3 2020. With that, Centene Corporation announced it will be opening a regional headquarters in the University submarket of Charlotte. It plans to build a one million square foot campus and hire up to 6,000 employees to work at the new facility.
Market Activity
Despite the city’s struggle with COVID-19, Orlando home sales are surging. A report from the Orlando Regional REALTOR® Association showed that home sales skyrocketed in June, up nearly 46 percent from May. With that, housing inventory in June saw a decline of 19 percent compared to June 2019. The median price of homes sold in June was $256,000, a 6 percent increase from $249,999 in June 2019.
