More homeowners are opting to rent, rather than buy, according to a recent Apartments.com survey. As MHN reported last week, the survey found that a majority of U.S. renters are families who want to rent instead of owning a home. The survey found that 11 percent have been renters for less than a year; 41 percent have been renters for less than five. Renting offers consumers a number of options: Flexibility, lower overall cost, maintenance-free living and the chance to live affordably in popular neighborhoods. But could the increase in apartment popularity be the result of more than just convenience?…

According to recent National Association of Realtors (NAR) predictions, the level of overall home sales–including multi-housing–is forecast to show little movement in the coming months. The NAR’s Pending Home Sales Index dropped 3.2 percent from June to July–even with June’s reading being revised to 89.4. (The original reading was thought to be 89.0.) However, the anticipated calm period isn’t necessarily a bad thing. Sales rise, and sales decline–but when considering the big picture, many in the industry feel home sales will soon increase. NAR’s Managing Director of Quantitative Research Jed Smith told MHN that while sales fluctuate from month to…

In July, the monthly total for consumers looking into specific apartment unit availability online hit–and passed–the one million mark for the very first time, according to Realty DataTrust’s VaultWare reservation system. It’s no secret that online apartment searching is becoming more popular; given the current high gas prices–currently still above $3 a gallon–expect that trend to continue. People want to do as much research as they can online before heading out to personally view a property. But as Realty DataTrust Vice President of Marketing Gina Kilker told MHN, checking availability online is just the start of the leasing process. It’s…

This week, MHN reported that New York-based residential firm Metro Loft Management will be waiving security deposits for renters with strong credit histories at its 20 Exchange Place building. Condo and co-op sales have been strong in New York in the past year, despite a national housing slump. The average condo price increased 36 percent from a year ago to $1,663,533, according to Halstead Property’s second quarter Manhattan sales report. In some markets, strong home sales can weaken the rental market. That’s not the case in New York, however. Yes, selling prices have remained fairly high through the housing slump….

Last week, the president signed a housing bill that gave the Treasury Department the authority to safeguard Fannie Mae and Freddie Mac and offered foreclosure prevention help for hundreds of thousands of homeowners. Passed just a week ago by the House and sent to the president over the weekend by the Senate, the bill had been in the works for a long time. Many members of the single-family industry hoped the new law, which includes a $7,500 buyer tax credit, would spur home sales. But some multifamily industry members had expressed concern about parts of the bill–the tax credit in…

On Thursday, the National Association of Realtors reported overall existing-home sales–including single-family, townhomes, condominiums and co-ops–declined 2.6 percent. However, as MHN wrote, not all real estate sectors showed a decline. Single-family sales fell 3.2 percent. But condominium and co-op sales increased 1.7 percent. Yes, condo and co-op sales are still below last year’s level. But the fact that they rose at all–as sales of other property types continued to decline–is good news. As the single-family market continues to navigate through rocky waters, multifamily units are still moving for a number of reasons. Lower prices are making condos an even bigger…

Last week, California became the first U.S. state to issue a mandatory green building code that will require energy efficiency and less water consumption. Regulations for single-family, multifamily and commercial structures are also part of the new code. It was a big move for the golden state, and a popular one–the California Building Standards Commission voted unanimously for the green building code, which was designed to reduce greenhouse gas emissions. As MHN reported Monday, the new code will improve water usage in both commercial and residential plumbing fixtures and aim for a 50 percent landscape water conservation reduction. Builders will…

This week, the U.S. government said it would step in to help bolster Fannie Mae and Freddie Mac. Despite the fact they each have access to a $2 billion line of credit from the government, the two mortgage companies are, for the most part, private firms.  On Sunday, Treasury Secretary Henry Paulson suggested increasing that line of credit significantly. The Fed also said it would let the agencies borrow money at a special rate. Déjà vu Rescue This isn’t the first time the government has stepped in to assist a company this year. Four months ago, the government–with no official…

Green building has grown exponentially in the past few years. Since 2003, the number of cities with green building programs has increased 418 percent, according to the American Institute of Architects. And green building is about to grow even more: The green home market is forecast to increase from $2 billion to possibly $20 billion over the next five years, according to a recent report that was co-sponsored by the National Association of Home Builders. Across the U.S., the frenzy is growing in states such as: North Carolina: Between June 2007 and January 2008, the number of certified and completed…