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Are MF Developers, Owners and Investors Banking on the Same Strategy?

SAN DIEGO—Panelists at NMHC's Apartment Strategies Outlook Conference take a market-by-market examination of conditions, including a discussion of rent growth and vacancy variation by geography and class type.

By Natalie Dolce | nataliedolce | Updated on January 30, 2017

SAN DIEGO—“So many developers, owners and investors are banking on the same strategy, and that strategy is to go urban.” That was according to panelist Jay Parsons, VP of MPF research and YieldStar Investment Analytics at RealPage Inc. According to Parsons, who spoke at the recent 2017 NMHC Apartment Strategies Outlook Conference, in the past, you could point out the markets that were oversupplied because it was clear, like Phoenix or Vegas, to name a few. Now, he said, you can say “urban markets” and it is all over, he said.

Parsons joined moderator Jay Lybik, VP of research services at Marcus & Millichap, who mentioned that construction around the nation in the apartment market is very concentrated. “The top 10 markets of new supply represent 45% of all the units that are going to be delivered in 2017,” he said. “It appears it will be the peak in the cycle.”

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