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Market Analysis for Downtown Redevelopment ***Draft*** <br />City of Centerville Economic Development Authority <br />April 3, 2023 <br />Rental Housing <br /> <br />Even with the large number of new rental units <br />coming into the market, there is still demand for <br />rental housing. <br /> <br />For-Sale Housing <br />Demand for single-family homes and townhomes <br />was very strong in 2020 and 2021 but is now <br /> <br />starting to show signs of slowing. <br /> <br />New rental projects are still leasing up quickly. <br /> <br /> <br />Senior Housing <br />Active adult and independent living occupancies <br /> <br />are strong. <br /> <br />Assisted living and memory care managers are <br />Buyers of townhomes are often more price <br />concerned that there is too much new product. <br />sensitive than buyers of single-family homes. <br /> <br /> <br /> <br />Senior housing property managers said that <br />staffing has become less of a challenge. <br /> <br />Condominiums have not been tested in the <br />market as much as townhomes. <br /> <br /> <br /> <br /> Page | 61 <br /> <br />