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The Forces Shaping the Multifamily Market with Jay Parsons of JPI
Tuesday, April 15, 2025
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Adulting lag: Jay Parsons joins Propmodo’s Decoding Real Estate Podcast to talk about the forces affecting multifamily markets across the country.
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Decoding Real Estate Podcast
In the ever-evolving landscape of multifamily housing, understanding the nuanced interplay between supply and demand is crucial to making good investment decisions. Jay Parsons of JPI joined our Decoding Real Estate Podcast to shed light on the complexities shaping multifamily supply and demand. From shifting generational behaviors to regional migration patterns, these factors collectively influence rental dynamics across the United States.
Parsons highlights a notable trend: younger generations are delaying traditional milestones like marriage and homeownership, leading to prolonged apartment living. This shift, combined with economic barriers to purchasing homes, sustains high demand for rentals. Simultaneously, pandemic-induced migration patterns are normalizing, yet regions like the Sun Belt continue to attract new residents, with Florida and Texas accounting for a significant portion of recent U.S. population growth.
On the supply side, the market has seen a surge in new apartment constructions, reaching levels not observed since the mid-1970s. However, this increase is unevenly distributed, with areas like the Sun Belt experiencing more significant growth. Despite this, many cities struggle with housing affordability due to regulatory hurdles that impede new developments. Parsons advocates for solutions such as easing construction lending restrictions to address these challenges. As the multifamily industry continues its growth trajectory, track these dynamics will continue to be essential for stakeholders aiming to navigate and invest wisely in this complex market.
Overheard
Here are the top 20 metro areas for net apartment leasing over the last 12 months. Takeaways:
1) Texas is still hot, hot, hot. So is the Southeast, Southeast and Mountains.
2) Coastal markets are seeing big demand, too, again.
3) Midwest still cruising, too.
Strong demand
— Jay Parsons (@jayparsons)
2:27 PM • Apr 11, 2025
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Propmodo Daily is written and edited by Franco Faraudo with contributions from readers like you and the Propmodo team.
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