Forward Supply Still a Headwind, Despite Recent Stability
PUBLISHED: Monday, July 23, 2018
As housing supply is one of the primary drivers of local housing fundamentals, we analyze single-family and multi-family development activity with a focus on 40 major metro areas, building upon the national outlook published in our macro housing forecasts. We drill deeper than market-level data and analyze micro-market dynamics using our proprietary Geo Descriptor Index (GDI), which measures all the nation’s 2,300 micro areas on a proprietary 0-100 scale. For the apartment REITs, we analyze predicted supply at the asset level and overlay our proprietary Dynamic Bullseye framework on over 10,000 individual assets, which involves roughly 15 million point-to-point calculations.
