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Nov. 19, 2012

APARTMENT MARKET STATISTICS: November 2012

The Apartment Market Statistics section of the November 2012 issue of MHN includes data covering the following areas:

-Top Metro Apartment Markets Data (Top Markets Completions, Rents and Vacancies)

-Multifamily Starts, Permits, Rent Growth, Interest Rates, Condo Prices, Interest Rates, Building Materials Prices etc.

-Total Multifamily Mortgage Debt Outstanding

-Apartment Transactions (Volume and Prices)

-Apartment Equity REITS performance

Marcus & Millichap’s survey of apartment markets in top U.S. metros show that apartment completions in the second quarter are actually lower than the same period a year ago. The survey showed apartment vacancies in the top metros are down 120 basis points from a year earlier.

The level of apartment acquisitions in the second quarter remains stable from the same period in 2011. Data from Costar/PPR show that in the first quarter, $14.7 billion, or 2,124 units, in multifamily properties transacted. This level of transactions increased from $11.62 billion in the first quarter of 2012, but it is roughly equal to the 2,102 units transacted in the first quarter of 2011.

REIS’s presentation of data from Federal Reserve shows that GSEs and life insurance companies increased somewhat their holdings of multifamily properties in the first quarter 2012, compared to the same period a year ago, but banks and CMBS have decreased their debt holdings.

 

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