{"id":147611,"date":"2021-09-29T07:31:27","date_gmt":"2021-09-29T11:31:27","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&p=147611"},"modified":"2021-09-29T07:31:27","modified_gmt":"2021-09-29T11:31:27","slug":"multifamily-leasing-performance-in-august-exceeds-pre-pandemic-levels","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/multifamily-leasing-performance-in-august-exceeds-pre-pandemic-levels\/","title":{"rendered":"Multifamily Leasing Performance in August Exceeds Pre-pandemic Levels"},"content":{"rendered":"

Multifamily Leasing Performance in August Exceeds Pre-pandemic Levels<\/h1>\n

September 27, 2021 | Institute for Real Estate Operating Companies<\/a><\/p>\n

\"\"<\/p>\n

A strong recovery in multifamily leasing occurred in August 2021, compared not only to the prior year but also to August 2019 (the pre-pandemic baseline), according to the latest report from proptech firm MRI Software.<\/p>\n

Highlights of the report, based on data from 1 million market-rate units across three consecutive Augusts, include:<\/p>\n

\u2022 Pricing increased 11 percent between 2020 and 2021 and 7 percent between the baseline and 2021.<\/p>\n

\u2022 Traffic increased 18 percent between 2020 and 2021 and 38 percent between the baseline and 2021.<\/p>\n

\u2022 Move-in volumes increased 16 percent between 2020 and 2021, down only 4 percent from the baseline.<\/p>\n

\u2022 Renewal volumes increased 5 percent between 2020 and 2021, down only 7 percent from the baseline.<\/p>\n

\u2022 Move-outs have decreased 13 percent between 2020 and 2021 and 30 percent between the baseline and 2021, fueling the tightening of supply.<\/p>\n

Not every metric was positive, however.<\/p>\n

\u201cAlthough concession volume has stabilized, the average concession value has remained high,\u201d said Brian Zrimsek, industry principal, MRI Software. \u201cFurthermore, through MRI\u2019s participation in the NMHC\u2019s Rent Payment Tracker initiative, we know that on-time payment performance continues to erode, and that 8.5 percent of the delinquent rents are more than six months in arrears.\u201d<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

A strong recovery in multifamily leasing occurred in August 2021, compared not only to the prior year but also to August 2019…<\/p>\n","protected":false},"author":3464,"featured_media":8349,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3010,2939,2940,2817,2965],"tags":[],"class_list":["post-147611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asset-manager-news","category-commercial-real-estate","category-covid-19-pandemic","category-multifamily","category-performance"],"acf":[],"yoast_head":"\nMultifamily Leasing Performance in August Exceeds Pre-pandemic Levels - Blue Vault<\/title>\n<meta name=\"description\" content=\"A strong recovery in multifamily leasing occurred in August 2021, compared not only to the prior year but also to August 2019...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/qa.bluevaultpartners.com\/multifamily-leasing-performance-in-august-exceeds-pre-pandemic-levels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Multifamily Leasing Performance in August Exceeds Pre-pandemic Levels - 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