The findings from the Sunrise Multifamily Summit were discussed in the Albany Business Review’s July 13th article on “What to Watch in Construction”:
Inside the housing market
The region’s residential market may be moving away from multi-family building.
That’s a possible takeaway from new data on apartment rent trends and construction data.
Sunrise Management & Consulting came out with their most recent market report on apartments in June. The group surveys nearly 200 apartment complexes in the region to provide a data snapshot of rent patterns across the region.
The findings for 2018? Rent increases were down over the past year compared to previous few years.
By comparison, Saratoga County saw rent rise by more than 10 percent in 2015, a time when a record amount of multi-family units were being permitted across the region.
“We’re at an inflection point,” said Jesse Holland, president of Sunrise Management & Consulting at an event where he released the latest report. “We are reaching that saturation point.”
Click on the image below to read the whole article on the Albany Business Review’s website.
