{"id":229,"date":"2021-01-06T09:48:41","date_gmt":"2021-01-06T09:48:41","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=229"},"modified":"2023-03-10T08:15:15","modified_gmt":"2023-03-10T08:15:15","slug":"inland-empire-housing-market-trends-fall-2020","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/inland-empire-housing-market-trends-fall-2020\/","title":{"rendered":"Inland Empire Housing Market Trends &#8211; Fall 2020"},"content":{"rendered":"<h2>Economic Rehabilitation At a Crossroads<\/h2>\n<p>The Inland Empire\u2019s multifamily market benefits greatly from its vicinity to Los Angeles and the Bay Area, with incoming residents from more expensive, denser markets driving demand and rent<br \/>\ngrowth. Rents were the highest in the nation on a trailing three-month basis through October, up 1.2% to $1,669, while the U.S. average remained flat at $1,464.<\/p>\n<p>Employment in the metro continued to deteriorate, clocking in at -9.9% year-over-year during the 12 months ending in September, below the -9.3% U.S. rate. The metro\u2019s economic rehabilitation is caught between California\u2019s economic reconstruction and the nation\u2019s recovery. The unemployment rate improved steadily from the all-time high of 15.1% in May to 10.5% in August, while preliminary data for September pointed to 10.4%. Leisure and hospitality shrunk by 30 percent, while trade, transportation and utilities\u2013the metro\u2019s largest sector\u2013contracted by 3.4%. Amazon\u2019s newest fulfillment center in Beaumont expanded the warehousing footprint, which is sustained by the surge in e-commerce purchases.<\/p>\n<p>Multifamily deals totaled $477 million through October, with an average price per unit that rose 13.7% to $218,799. Meanwhile, developers delivered 2,383 units and had another 2,302 underway.<\/p>\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1163-MatrixMultifamilyInlandEmpireReport-Fall2020?utm_source=Matrix-Blog&amp;utm_medium=Social\">Matrix Multifamily Inland Empire Report-Fall 2020<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Economic Rehabilitation At a Crossroads The Inland Empire\u2019s multifamily market benefits greatly from its vicinity to Los Angeles and the Bay Area, with incoming residents from more expensive, denser markets driving demand and rent growth. Rents were the highest in the nation on a trailing three-month basis through October, up 1.2% to $1,669, while the [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[111,16],"class_list":["post-229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-inland-empire","tag-multifamily-outlook"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Inland Empire Housing Market Trends - Fall 2020 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"The Inland Empire\u2019s multifamily market benefits greatly from its vicinity to Los Angeles and the Bay Area, with incoming residents from more expensive, denser markets driving demand and rent growth.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/inland-empire-housing-market-trends-fall-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inland Empire Housing Market Trends - Fall 2020\" \/>\n<meta property=\"og:description\" content=\"The Inland Empire\u2019s multifamily market benefits greatly from its vicinity to Los Angeles and the Bay Area, with incoming residents from more expensive, denser markets driving demand and rent growth.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/inland-empire-housing-market-trends-fall-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-06T09:48:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T08:15:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Inland-Empire-iStock-1280443571.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Inland Empire Housing Market Trends - Fall 2020 - Yardi Matrix Blog","description":"The Inland Empire\u2019s multifamily market benefits greatly from its vicinity to Los Angeles and the Bay Area, with incoming residents from more expensive, denser markets driving demand and rent growth.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/inland-empire-housing-market-trends-fall-2020\/","og_locale":"en_US","og_type":"article","og_title":"Inland Empire Housing Market Trends - Fall 2020","og_description":"The Inland Empire\u2019s multifamily market benefits greatly from its vicinity to Los Angeles and the Bay Area, with incoming residents from more expensive, denser markets driving demand and rent growth.","og_url":"https:\/\/www.yardimatrix.com\/blog\/inland-empire-housing-market-trends-fall-2020\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-01-06T09:48:41+00:00","article_modified_time":"2023-03-10T08:15:15+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Inland-Empire-iStock-1280443571.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/inland-empire-housing-market-trends-fall-2020\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/inland-empire-housing-market-trends-fall-2020\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Inland Empire Housing Market Trends &#8211; 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