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Midwest emerging as the top region for renters

Mapped: Which U.S. States Want to Scrap the Time Change Permanently?

Author

Vidit S
March 18, 2025

One AI Real Estate Tool

reAlpha is a real estate technology company that uses AI and data analytics to identify, acquire, and manage short-term rental properties, helping investors make smarter, more profitable decisions in the vacation rental market.

Real Estate Trends

Midwest emerging as the top region for renters link

  • The Midwest now has half of the top 20 rental markets and six of the top small rental markets in the US. Suburban Chicago is closing in on Miami as the most competitive rental market.

  • National apartment occupancy remains high at 93.3%, with lease renewal rates increasing to 63.1% from 61.5% last year. It now takes 43 days to rent a vacant unit on average.

  • Miami remains the top market, with 14 renters competing for each unit and an average of 36 days to rent. Suburban Chicago follows with 10 applicants per unit and a 95.4% occupancy rate.

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Older adults less lonely after moving into senior living, new survey shows link

  • More than two-thirds of older adults felt lonely before moving into a senior living community, but that number dropped to 42% after moving in. Around 61% reported improved feelings of loneliness or isolation.

  • 85% of residents said they had made friends since moving in, and 65% said it was easy to meet other residents. Participation in enjoyable activities increased by 19%, physical activity by 20%, and finding meaning or purpose by 21%.

  • Over one-third of respondents said their health improved after moving into senior living, with better care coordination, medication management, and therapy. Around 65% felt their health had declined due to loneliness and isolation before the move.

Investor home purchases plummet to lowest level in nearly a decade link

  • Investor home purchases dropped to 47,004 in Q4, a 3.9% year-over-year decline and the lowest in nearly 10 years. Investor market share fell to 17%, down from 19% a year earlier.

  • Florida saw the biggest decline, with investor purchases down 28% in Orlando, 21% in Miami, and 14.5% in West Palm Beach. High insurance costs, soaring HOA fees, and increased natural disasters are driving investors away.

  • Condo purchases fell 13% year-over-year to the lowest Q4 level since 2012, with single-family homes down 1.6% and townhomes down 6.1%. Multifamily purchases rose 2.9%, bucking the overall trend.

Just for the kicks

Best Beach Towns in Florida If You Don’t Like Crowds link

  • Florida led the country in migration with 372,670 people moving there last year despite rising insurance costs and HOA fees. The absence of state income tax remains a big draw, especially for high earners.

  • West Palm Beach, Naples, and Tampa are attracting wealthy buyers, while Miami, Tampa, and Ft. Myers rank among the top 10 cities for starter homes. Florida had a record 142.9 million tourists in 2024, up 1.6% from 2023.

  • Less crowded beaches include South Walton's coastal dune lakes, Ponte Vedra Beach, Cape Coral, Pine Island, and Key Biscayne. Some require private club memberships or local connections for access.

Location Specific

North and South Carolina Set to Gain Nearly 60,000 New Apartment Units link

  • Charlotte is expected to deliver 18,863 new units in 2025, expanding its inventory by 7.8%. Charlotte's total inventory has grown nearly 29% in the past five years, much higher than the national average of 11%.

  • Raleigh/Durham is set to complete 10,353 units in 2025, growing its base by 5.0%. The 20- to 34-year-old population in Raleigh/Durham increased 8.4% from 2018 to 2023, compared to just 0.3% nationally.

  • Asheville's inventory is set to grow by 13.1% in 2025 with 3,509 new units. Over the past five years, Asheville’s inventory has expanded 19.7%, supported by a 5.2% population increase from 2018 to 2023.

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Pro Member Only Content Below

Most of the insights below stem from extra research and include content from paid sources and special reports.

All the Florida Cities Where Home Listings Are Surging the Most 

  • Florida's housing inventory reached 168,717 homes in February, the highest since 2016 and up nearly 34% year-over-year. St. Petersburg saw the biggest surge, with listings up 164% from last year.

  • Other cities with large increases include Citrus Springs (+136%), Pace (+128%), Miami Gardens (+120%), and Dania Beach (+118%). These surges reflect high mortgage rates stalling demand.

  • Sarasota and Bradenton are becoming more buyer-friendly, with declining median prices and longer time on the market. A typical home in Bradenton now costs $432,000 — down $100,000 from 18 months ago.

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Top 10 Markets for Office Investment

  • Office investment rebounded in 2024, with Manhattan leading at $7.6B (up from $5B), followed by Los Angeles ($3.7B) and Boston ($3.2B). Q4 2024 saw $21B in sales activity, up 36% from Q4 2023.

  • Office values are still down over time, with Miami and Phoenix being the only cities showing gains over 2023 — but both are over 40% below levels from five years ago. Atlanta, Austin, and Boston were down 1-2% year-over-year.

  • Office leasing demand remains uneven, with companies reducing space but upgrading to Class A and A+ properties. Fewer new builds are creating supply pressure, keeping top-tier rents steady while lower-tier rents decline.

  • Click on the link to see the rest of the list

These are the Most At-Risk Housing Markets in the Country

  • Chicago had five of the most vulnerable markets, while California had 14 and Florida had seven. New York City had four at-risk markets, showing concentration in key urban centers.

  • Major ownership costs were labeled unaffordable in 28 of the 50 most vulnerable markets, with costs consuming at least 43% of average wages compared to 34% nationwide. Residential mortgages were underwater in 29 out of 50 of the most at-risk counties, above the 5.7% national average.

  • The foreclosure rate was over 1 in 1,000 properties in 37 of the 50 most vulnerable counties, while the national average was 1 in 1,671 homes. Half of the most vulnerable counties had an unemployment rate above 5%, higher than the national average of 4.2%.

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Older Americans Migration Trends: A consulting study

  • Retirees are leaving high-tax states like New York, New Jersey, Illinois, and Texas due to property tax rates over 2%. States like Nevada, Arizona, and South Carolina, with tax rates below 0.5%, are attracting more retirees.

  • Florida remains the top retiree destination despite higher property taxes, followed by Texas and Arizona. Myrtle Beach, SC, has become a top spot for older Americans thanks to low taxes and warm weather.

  • Census data shows Myrtle Beach saw a 23.1% increase in residents 65 and older from 2020 to 2023. Wilmington, NC (+18.4%) and Austin, TX (+17.3%) also ranked high for retiree migration.

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Retail’s 2025 Outlook: A Tale of Diverging Trends

  • Retail occupancy costs have hit their highest levels in over six years, squeezing profit margins for many retailers. Grocery, fast food, beauty, and sporting goods are growing, while drug stores, dollar stores, and pet supplies face rising costs and weak demand.

  • Return-to-office trends are reshaping foot traffic patterns. Office-heavy cities are regaining weekday business, but residential areas may lose the spending boost they gained during remote work.

  • Leasing activity is slowing despite rising rents as inflation and labor costs pressure margins. More store closures and bankruptcies are expected, but demand for high-quality retail space remains strong.

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Stocks Plunge as Trump Trade Policies Sow Confusion: What It Means for the Housing Market

  • The Nasdaq composite fell 4% on Monday, its worst day since 2022, and the Dow Jones dropped 500 points on Tuesday after losing over 2% on Monday. Homebuilder stocks fell between 0.5% and 5% amid uncertainty over Trump's shifting trade policies.

  • National median list prices are down 1.2% year-over-year through March 1, while new listings are up 4.7% and total active listings surged 26%. Homes are also spending six more days on the market compared to last year.

  • Moody's puts the chance of a recession at 35%, up from the typical 15%. A true recession could lower home prices and mortgage rates but might also increase job losses, further weakening the housing market.

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Off Topic

Mapped: Which U.S. States Want to Scrap the Time Change Permanently?

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That's all folks.

Cheers,

Vidit