AppFolio and Axiometric rent forecast: a property manager’s crystal ball

Investors might want to reconsider that new development in Houston after reading AppFolio and Axiometric's U.S. Apartment Forecast report. According to the trends report, some shining cities might be burning out by year's end. The latest report outlines markets where growth is significant enough to alter the business course for property managers. Looking at occupancy rates, employment, economic growth, and other data points, AppFolio, a cloud-based property management portal, and Axiometric, a research and data firm for real estate investors, believe the information can help property managers plan for the future. Overall outlook on the apartment industry is good by all accounts in the report. Job growth is getting stronger, and more millennials are waiting to purchase homes, putting a demand on existing and new apartments. There are over 347,000 new apartments planned nationwide for 2016, according to the report, while the unemployment rate has dropped to nearly 5 pe...