New supply can radically shift the market equilibrium and dramatically impact the performance of existing assets, according to a new video from Marcus & Millichap.
Generally speaking, construction costs surged during the pandemic as supply chains broke down, said John Chang, National Director Research and Advisory Services, Marcus & Millichap.
But prices generally stabilized in 2023, and they've been relatively consistent for about a year. Overall, they're about 26% higher than they were in 2019.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.