National
TODAY’S DEALS: East Harlem Development Site Sells for $13M
HAP Investment Management grabs an East Harlem development site; Rondell Homes buys 346-units in suburban Denver; and Virtus acquires two apartment properties in Dallas.
Housing Production Falls 6.5 Percent in May, Says NAHB
Declines in both single- and multifamily starts pushed nationwide housing production down 6.5 percent in May to a seasonally adjusted annual rate of just over 1 million units, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Economy Watch: Homebuilders Confidence Rises Unexpectedly
Despite sluggish sales in recent months, builder confidence in the market for newly built, single-family homes rose four points in June to reach 49 on the National Association of Home Builders/Wells Fargo Housing Market Index.
TODAY’S DEALS: BC Property Investments Buys Boca Apartments for $80.3M
ARA brokers Capri Capital’s sale of a luxury apartment asset in Boca Raton, Fla.; The Praedium Group buys a 224-unit community in Phoenix; and a Stockbridge affiliate grabs a 108-unit community in Massachusetts.
Economy Watch: World Bank Lowers Global Growth Predictions
Last week the World Bank, in its Global Economic Prospects, lowered its forecast for world economic growth in 2014
Economy Watch: Retail Sales Up in May
The Census Bureau reported that U.S. retail and food sales in May were up 0.3 percent compared with April, adjusted for seasonal variation and holidays, but not for price changes (though inflation is still pretty low).
Transwestern Report Offers Outlook for Economic Recovery
In its latest report, Transwestern warns that the economy may not be growing as fast as some people think it is, and despite positive signs in the U.S. job market, there is a growing concern that the recovery is in a stall.
Economy Watch: Service Sector Revenues Mixed in Q1
The Census Bureau reported that U.S. service sector revenues increased for certain industries in the first quarter of 2014 compared with the previous quarter, such as information services, utilities and finance and insurance.
Home Rental Interest Rises, Apartment Rentals Still Reign, According to Homes.com and ForRent.com
he amount of renters in the U.S. has expanded significantly nationwide since the burst of the housing bubble.
Economy Watch: Economic Worries a Drag on Housing
Americans’ concerns about the direction of the economy and their household income appear to be weighing on housing growth, according to Fannie Mae’s May 2014 National Housing Survey.