APARTMENT MARKET STATISTICS: December 2012
Click here for the latest Apartment Market Statistics, featured in the December 2012 issue of Multi-Housing News.
The volume of multifamily transactions is down, by 6 percent on a quarterly basis and a whopping 27 percent year-over-year.
The recovery of bank balance sheets appears to be accelerating. Economist Sam Chandan reports that new bank lending is also higher overall, although a majority of smaller banks in secondary and tertiary markets are still drawing down their exposure to the sector.
Multifamily starts mark the 10th consecutive month at above 200,000 units. Current starts in August is 37 percent above those in August 2011, according to the National Association of Home Builders.
Median sales prices for condos and coops have increased year over year in each of the eight months from January to August 2012, says NAHB. And real rents fell 0.4 percent in August, representing the largest decline in more than a year. Inflation is still tame, outside the food and energy sectors.