1315_Nareit Testimonials_REITworld_ Bolton_2022-11-22_v2
11/28/2022 | by Nareit Staff

Eric Bolton, chairman & CEO of MAA (NYSE: MAA), participated in a video interview at Nareit’s REITworld: 2022 Annual Conference held in San Francisco on Nov. 15-17.

Bolton discussed how the current demand trends position MAA heading into 2023, and how the company is placed to deal with upcoming economic headwinds.

“The demand side of our business continues to hold up pretty well,” Bolton said. He noted that leasing traffic in the third quarter was running ahead of the prior year, and also pointed to continued job growth across Sun Belt markets and a decline in the number of single-family home sales, which is keeping people in the rental market.

“We continue to see solid demand and no real early indications of any deterioration or weakening in that regard,” Bolton said.

While 2023 could present economic challenges, MAA’s diversification across large and secondary markets in the Sun Belt positions the company well, Bolton noted.

Turning to supply issues, Bolton said levels have been “pretty elevated” and are unlikely to climb from current levels in 2023. Although supply is high in cities like Austin, he added that the city is also seeing strong rent growth, so demand is balancing out supply.

Meanwhile, Bolton said market uncertainty could present potential acquisition opportunities for MAA. “Opportunities will start to emerge and we’re in a great position to jump on that.”