Stay Competitive with G5’s Multifamily State of the Industry Overview
G5’s Multifamily State of the Industry Report for Q2 2018 is now available to download. The report is a comprehensive overview of industry performance, policies, market outlook, upward trends, and challenges.
Report Recap: Market Trends
- The multifamily industry continues to remain strong, with its value outweighing other housing sectors. The overall number of renters reached an all-time high in 2018.
- The majority of new supply for the last several years has been in Class A properties and units, in part due to construction costs and the continued market strength. However, oversupply is beginning to catch up and cause significant surplus and competition, especially with a recent drop in demand due to affordability.
- There is tight vacancy for both Class B and C properties and units, due to growing shortage and fewer advantages and incentives for developers to build new properties.
- Nationwide, there are diverse investment portfolio opportunities that are well-suited for renovation and value creation, for those owners and developers who are able to focus on Class B and Class development.
What to Expect: Report Analysis & Predictions
G5 compiled data and analysis from the following industry surveys and reports to provide an overview and upward trend predictions on primary and secondary markets, digital advertising, marketing developments, and industry challenges for Q2 and the remainder of 2018.
- The State of the Nation’s Housing 2018, Joint Center for Housing Studies of Harvard University
- 2018 U.S. Multifamily Investment Forecast, Institutional Property Advisors
- 2018 Marketing Benchmark Survey
- Google Search and Digital Advertising Analytics
Digital Advertising & Search Results
- Multifamily industry search queries grew 51 percent in Q1 2018 compared to Q1 2017. Half of those searches were done on mobile devices.
- Advertising clicks are up 105 percent year-over-year; 60 percent of all clicks on occurred on mobile devices.
- Multifamily search queries peak in June. CPC tends to peak annually in October, at $1.42. The typical industry range is $1.20-$1.30 CPC.
Marketing Trends & Landscape
Age of Assistance: The digital landscape has fueled a new evolution of the face of consumerism: a confident, capable, and connected force that is directly plugged into a world where they can get anything and everything on-demand. This new battleground for growth has been coined “The Age of Assistance” and focuses on assisting consumers throughout the research and purchasing journey. How and where companies assist prospects, as well as predict customer needs, will define growth opportunities and a competitive edge.
Site Speed: Assist customers online by reducing the time it takes your desktop and mobile website to load. The average mobile site takes 15 seconds to populate (seven seconds less than last year); however, that’s still too slow. According to Google, 53 percent of mobile visitors leave a page if it takes more than three seconds to load.
Responsive Search Ads: Google’s Responsive Search Ads are the newest, largest, and most flexible ad format to date. Powered by machine learning, Responsive Search Ads allows Google to mix and match 15 different headlines and up to four different descriptions to find the best possible ad combinations for unique searches and users. Google will arrange different combinations of headlines and descriptions to learn which combinations perform best. Over time, Google will learn to serve a individualized combination deemed to most closely match the user’s search query, device use, and past browsing behavior.
Check Out the Full Report
Leave the research and data analysis to us so that you can focus on making your brand known and converting leads. G5’s Q2 2018 State of the Industry Report includes data-driven insights, predictions, and strategy that will help you make the most of your marketing budget and time this year.