Research Center
Indianapolis: Full Speed Ahead
Demand for apartments continues to be strong, thanks to the locale’s relative affordability. The city’s high-quality education system and skilled workforce attract residents and employers, propelling economic growth.
Overbuilding in Richmond?
Following several years of strong supply, the area’s multifamily market is shifting down a gear. With almost 20,000 units in the pipeline, the metro is at risk of overbuilding.
LA: Affordable Housing Wanted
Rent growth in the city is continuing at a rate double the national average, largely due to solid gains in a few key employment sectors and renter interest pivoting toward the area’s suburbs.
Economy Watch: China Named Top Buyer, Seller of US CRE
One-fifth of realtors that participated in the National Association of Realtors latest survey on foreign investment in U.S. commercial real estate said they had closed a sale with an international client in 2016. They also expect increased sales and leasing activity involving foreign investors this year.
April 2017
Commentary and data were supplied by Michael Neal, a senior economist with the National Association of Home Builders (NAHB).
Economy Watch: Demand For Skilled Nursing Facilities Edges Up in Q1
The percentage of Medicare patients among the overall mix of patients is also increasing, according to the National Investment Center for Seniors Housing & Care, reflecting the growing important of Medicare within the skilled nursing sector.
Rent Growth
Rents were up 1.5% nationwide in May, down 40 basis points from April, 90 basis points from March and well below the 5.3% growth rate of a year ago. Deceleration is more than firmly established, as the year-over-year growth rate has decreased for 13 straight months since reaching 5.4% in April 2016. The last time the year-over-year increase was as low as 1.5% was in April 2011.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for May 2017 in New York City.
Economy Watch: Fed Sure of Economy, Raises Rates, Promises Asset Sell-Off
The Federal Reserve unanimously decided to raise rates for the second time in 2017, signaling its belief that the U.S. economy is strong enough to handle more expensive financing.
Economy Watch: Retail Sales Dip in May
By Dees Stribling U.S. retail and food service sales dropped 0.3 percent in May compared with April, the Census Bureau reported on Wednesday. That’s the weakest monthly report for retail sales in more than a year and a half. Compared with the same month last year, however, retail sales were still up by 3.8 percent. As usual, some retail categories fared better than others. A handful of categories experienced month-over-month sales gains in May, such as furniture, up 0.4 percent, and apparel, up 0.3 percent. Grocery stores, as well as health and personal care stores, both eked out 0.1 percent…