National
Economy Watch: GDP Bounces Back in Q2
Real U.S. gross domestic product increased at an annualized rate of 4.6 percent during the second quarter of 2014, according to the Bureau of Economic Analysis’ final estimate.
Economy Watch: New Home Sale Accelerate in August
Sales of new single-family houses in August were an annualized rate of 504,000 units, according to the Census Bureau and HUD.
Applicant Credit Risk Improving Alongside Increases in Rental Prices
A recent report by TransUnion has found that rental applicant credit risks improved by 0.8 percent between Q2 2013 and Q2 2014 despite increases in rent prices.
New-Home Sales Top 500,000 in August, Highest Level Since 2008, Says NAHB
Sales of newly built, single-family homes increased 18 percent in August to a seasonally adjusted annual rate of 504,000 units in August, the highest level in six years, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Economy Watch: Home Price Increases Continue to Slow
More evidence that the residential expansion this time isn’t a bubble: According to the Federal Housing Finance Agency, U.S. home prices were up 0.1 percent in July compared with June.
Economy Watch: Existing Home Sales Drop in August
The National Association of Realtors reported that U.S. existing home sales decreased 1.8 percent to an annualized rate of 5.05 million units in August, compared with 5.14 million in July.
Economy Watch: Unemployment Ticks Up in Nearly Half the States
The Bureau of Labor Statistics reported that 24 states and the District of Columbia suffered unemployment rate increases in August compared with July, while 15 states had decreases, and 11 experienced no change.
TODAY’S DEALS: Lee & Associates Sells Five Units for $2.3M
Lee & Associates achieves the highest per-unit price in California’s Conejo Valley; a 292-unit community in Fort Worth trades hands with help from Marcus & Millichap; and Berkadia secures nearly $12 million for a mixed-use co-op property.
Economy Watch: Housing Starts Take a Dip in August
The Census Bureau reported that private housing starts in August came in at an annualized rate of 956,000 units, a drop of 14.4 percent compared with July, when the rate was more than 1.11 million units.
TODAY’S DEALS: TIAA-CREF, TIAA Henderson Close Apartment Fund with $420M Value-Add Target
TIAA-CREF and TIAA Henderson close a value-add CASA fund after raising $260 million in equity; Pure Multi-Family REIT lands acquisition financing for communities in Arizona and Texas; and ARA arranges the sale of an Austin property to an affiliate of Heitman.