alndata.com Open in urlscan Pro
13.84.168.161  Public Scan

Form analysis
2 forms found in the DOM

GET https://alndata.com/

<form role="search" method="get" class="search-form" action="https://alndata.com/">
  <label>
    <span class="screen-reader-text">Search for:</span>
    <input type="search" class="search-form__field" placeholder="Search …" value="" name="s" title="Search for:">
  </label>
  <button type="submit" class="search-form__submit btn btn-primary"><i class="material-icons">search</i></button>
</form>

POST https://www.paypal.com/cgi-bin/webscr

<form action="https://www.paypal.com/cgi-bin/webscr" method="post"><input name="cmd" type="hidden" value="_xclick">
  <p></p>
  <p><input name="business" type="hidden" value="payment@alnsystems.com"></p>
  <p><input name="no_note" type="hidden" value="1"></p>
  <p><input name="currency_code" type="hidden" value="USD"></p>
  <p>
    <a href="https://square.link/u/MPyV5gfF"><img loading="lazy" class="wp-image-11907" src="https://alndata.com/wp-content/uploads/2022/04/SquarePaymentLogo-300x217.png" alt="Payment Link" width="97" height="70" srcset="https://alndata.com/wp-content/uploads/2022/04/SquarePaymentLogo-300x217.png 300w, https://alndata.com/wp-content/uploads/2022/04/SquarePaymentLogo-829x600.png 829w, https://alndata.com/wp-content/uploads/2022/04/SquarePaymentLogo-768x556.png 768w, https://alndata.com/wp-content/uploads/2022/04/SquarePaymentLogo.png 1152w" sizes="(max-width: 97px) 100vw, 97px"></a>
  </p>
</form>

Text Content

Skip to content
Sales@alndata.com
800-643-6416 ext. 3
 * LinkedIn
 * Twitter
 * Facebook
 * Instagram

Menu
 * Home
 * About
 * Services
   * ALN OnLine
   * Locator
   * Supplier Services
     * Vendor Edge Plus
     * Compass
   * Affiliate
 * Blog
 * Market Reviews
 * Contact
 * My Login
 * More
   * Home
   * About
   * Services
   * Blog
   * Market Reviews
   * Contact
   * My Login


APARTMENT DEMAND TICKED UP IN MARCH

April 10, 2023 by Jordan Brooks

For the first time since July of last year, national monthly net absorption for
March was in positive territory. The net gain of nearly 13,000 leased units
exceeded March of 2022 by around 1,000 units and provided a positive data point
for the industry as the spring and summer months approach. All numbers will
refer to conventional properties of at least 50 units.


QUARTERLY NET ABSORPTION

After a net loss of leased units in both the third and fourth quarters of 2022
at the national level, a return to positive territory in the opening quarter of
2023 was an encouraging sign. After January and February both failed to avoid
losses, March’s almost 13,000 net gained leased units was enough to bring the
first quarter to a gain of just less than 11,000 net units. Quarterly
multifamily demand to open the year was well below a typical first quarter from
recent years, but nevertheless represented a shift in trajectory from the steady
decline of last year.

The challenges continue to persist most especially in the lower price tiers.
National Class A and Class B apartment demand was approximately 50% lower than
in Q1 2022, but the workforce housing segments each suffered a net loss in
rented units in the opening quarter.

For Class C properties, a net loss of about 1,300 leased units followed last
year’s gain of almost 4,000 units in the same portion of the calendar. For Class
D, last year’s net loss of around 1,000 leased units was followed up this year
with a loss of nearly 12,000 net units. Class D was the only price class to
experience a decline in average effective rent for new leases in the quarter,
but the substantial rent increase of the last few years continue to weigh heavy.


WANT TO RECEIVE OUR FREE MONTHLY NEWSLETTER?

If you don't already receive the ALN Apartment Data monthly newsletter, click
the button and tell us how to send it to you.

Subscribe&#x;


MARKET NOTES

New York and Philadelphia led the way in first quarter net absorption with
around 3,000 and 2,800 net absorbed units, respectively. The San Francisco –
Oakland region managed to finish the quarter with the fourth-highest absorption
with right around 2,500 net units. The quarter represented a positive indication
for those markets given their lackluster demand last year.

The other markets to crack the top five for first quarter demand included two of
the strong in-migration areas of recent years – Phoenix and Tampa. In Phoenix,
first quarter net absorption finished at around 2,700 units and Tampa closed the
period just under 2,500 net absorbed units. Half of markets suffered a net loss
of leased units in the first three months of 2023. Hardest hit was Los Angeles –
Orange County, where more than 3,600 net leased units were vacated.

Other areas that particularly struggled in the period included Detroit,
Indianapolis, Sacramento, and Dallas – Fort Worth. Each experienced a net loss
of between 1,000 and 1,400 leased units in the period. Of those markets, Dallas
– Fort Worth is perhaps the most notable given that it is a market accustomed to
being near the very top of the list for market-level apartment demand and is
perennially one of the most active markets in the country for new supply.


TAKEAWAYS

The first quarter brought with it some cause for a measure of optimism for the
multifamily industry as spring progresses and the summer months approach. March
marked the first month since last summer that monthly net absorption was
positive. As a result, the first quarter managed to end the streak of negative
quarterly net absorption at two quarters. However, not all was roses.

First quarter demand was much more tepid than in recent opening quarters. In a
year in which new deliveries are expected to be very high, apartment demand will
need to continue to improve as the year progresses to prevent occupancy from
softening further than it already has. Additionally, while national net
absorption for the first three months for 2023 was positive, half of U.S.
markets did not meet that threshold.

As was the case last year, this year is shaping up to be one in which
market-level performance is higher variance than in 2021 when myriad factors
combined into a tide that lifted all boats.

Disclaimer: All content and information within this article is for informational
purposes only. ALN Apartment Data makes no representation as to the accuracy or
completeness of any information in this or any other article posted on this site
or found by following any link on this site. The owner will not be held liable
for any losses, injuries, or damages from the display or use of this
information. All content and information in this article may be shared provided
a link to the article or website is included in the shared content. 
Post Views: 136



POST NAVIGATION

Previous PostLarge Markets Lead the Recent Rent Declines
Next PostIt’s Raining New Units in Multifamily

Search for: search

RECENT POSTS

 * It’s Raining New Units in Multifamily April 11, 2023
 * Apartment Demand Ticked Up in March April 10, 2023
 * Large Markets Lead the Recent Rent Declines March 29, 2023

ARCHIVES

Archives
Select Month April 2023 March 2023 February 2023 January 2023 December 2022
November 2022 October 2022 September 2022 August 2022 July 2022 June 2022 May
2022 April 2022 March 2022 February 2022 January 2022 December 2021 November
2021 October 2021 September 2021 August 2021 July 2021 June 2021 May 2021 April
2021 March 2021 February 2021 January 2021 December 2020 November 2020 October
2020 September 2020 August 2020 July 2020 June 2020 May 2020 April 2020 March
2020 February 2020 January 2020 December 2019 November 2019 October 2019
September 2019 August 2019 July 2019 June 2019 May 2019 April 2019 March 2019
February 2019 January 2019 December 2018 November 2018 October 2018 September
2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February
2018 January 2018 December 2017 November 2017 October 2017 September 2017 August
2017 July 2017 June 2017 May 2017 April 2017 March 2017 February 2017 January
2017 December 2016 November 2016 October 2016 September 2016 August 2016 July
2016 June 2016 May 2016 April 2016 March 2016 February 2016 January 2016


Nationwide Multifamily Data ALN Apartment Data built multiple platforms designed
to ensure the most accurate, detailed information available. We are proud to
offer our services across the nation. From On-site, Management Companies,
Brokers, Lenders, Supplier Partners, Apartment Associations to Locators, ALN
offers data you can rely on. Based in the great state of Texas, ALN is the
largest collector of apartment data in the United States. We update property
level information monthly, reporting on properties nationwide, and provide our
clients with data analytics, new construction projects, histories, occupancy and
rental trend reports, contact databases and locating services. Whether your
needs are for Onsite, Management, Owner, Brokers, Lenders, Acquisitions,
Development, Locators, Vendor/Supplier or an Apartment Association, our
platforms deliver instant access to detailed multifamily information.

COMPANY



Nationwide Multifamily Data

Methodology
Piracy Info

LATEST NEWS

 * It’s Raining New Units in Multifamily
 * Apartment Demand Ticked Up in March

OFFICE

2611 Westgrove, Ste. 104
Carrollton, TX 75006
Sales@alndata.com

PHONE

Toll Free: 800-643-6416
Local: 972-931-2553
Fax: 800-649-6251

MAKE A PAYMENT



 * LinkedIn
 * Twitter
 * Facebook
 * Instagram

2017-2021 © ALN Apartment Data | All Rights Reserved | Privacy Policy | Piracy
Info
Top