Advantage by TSZ Enterprises

For most of the past decade , asset management discussions in the Bay Area have revolved around pricing variables: rent growth , cap rates , and more recently, interest rates . Those factors still matter, but they no longer explain performance differences as cleanly as they once did. What’s increasingly driving outcomes at the asset level isn’t price alone. It’s time . Specifically: how long it takes units to lease, how early prospects eliminate properties, and how much friction exists between availability and commitment. Leasing Hasn’t Stopped, but it Has Slowed Down Bay Area multifamily leasing data over the past 18–24 months shows a consistent pattern: decision cycles are longer , even where demand remains intact. According to regional reporting from CoStar and RealPage, average days-on-market for multifamily units across San Francisco and the inner East Bay are meaningfully higher than pre-2020 baselines, despite vacancy rates that remain historically tight in many submarkets....