The Columbus multifamily market has performed strongly over the past 12 months, with sales volume nearly doubling the previous three-year average. The market’s affordability and higher yield potential have been driving this trend. However, the sales volume is expected to perform moderately in the first half of 2023 due to the widening gap between buyer and seller expectations on property valuations caused by high-interest rates. Columbus’s
The issue of high-interest rates is a serious problem that has been affecting the housing market for some time now. The high-interest rates directly impacted the buyer’s purchasing power, while sellers haven’t adjusted their expectations on their property valuation. It will take time for sellers to adjust to close the gap between buyers and sellers. The real estate industry is in a constant state of change and volatility. It…
As of November 2021, interest rates remain near-zero, which has boosted growth by encouraging investors to borrow more money at a lower cost since the Fed slashed interest rates in May of 2020. While more people have been able to afford a home due to the lower interest rates and the growth in tech jobs, the rental market remains strong, with Multifamily national average rent rising 11.4 percent year-over-year…
We’re about to start renovations on some of the townhomes in our portfolio. Due to the delays in the supply chain, we decided to get a quote on kitchen cabinets 1.5 months ahead of time, on June 28th, 2021. The quote was $1,498. Today, Aug 17th, 2021 – following up with the purchase, the kitchen cabinet rep says, ” so you are prepared, there has been a cabinet price…
Before getting into the details of a property, the first step is to analyze the market to ensure that it supports healthy rental growth and demonstrates demand with a growing population.
