APARTMENT MARKET STATISTICS: April 2013
Condo prices showed the first annual increase since 2007, registering a gain of 7 percent in 2012, according to the National Association of Home Builders.
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Apartment total returns increased in the fourth quarter of 2012 from 2.43 to 2.81 percent, according to data from the National Council of Real Estate Investment Fiduciaries (NCREIF).
The Mortgage Bankers Association (MBA) total multifamily financing volume index increased by 49 percent in the fourth quarter 2012 compared to the same period a year ago.
Multifamily starts, for five-plus unit buildings, is up 115 percent in December 2012 on a year-over-year basis, according to the National Association of Home Builders (NAHB). “Overall, the December permit numbers were strong enough to indicate that the five-plus starts rate is likely to remain relatively healthy in the short run, although a rate as high as 330,000 may be a little too much to sustain,” stated NAHB.
Asphalt, gypsum products, plywood and oriented strand board posted double-digit price gains in December, compared to the year before. Core CPI rose by a relatively benign 1.9 percent for 2012, and the annual average for 2012 was 2.2 percent above its 2011 level.
Prices for condos meanwhile “have increased at a double-digit pace, the first such stretch of price growth since late 2005. Condo prices registered a 7 percent gain in price for all of 2012, the first annual increase since 2007, says NAHB.
Property Shark survey shows that 41 percent of real estate professionals and homebuyers think sales volume will increase in 2013, while 32 percent think the sales volumes will remain stable.
