National
Builder Confidence Unchanged in September, According to NAHB
Following four consecutive months of improvement, builder confidence in the market for newly built, single-family homes held unchanged in September with a reading of 58 on the National Association of Home Builders/Wells Fargo Housing Market Index.
Economy Watch: Residential Prices Continue Climbing
Another indication that the housing recovery still has some legs: FNC reported that its Residential Price Index, which tracks the 100 largest U.S. metro areas, was up 0.7 percent in July compared with June.
TODAY’S DEALS: ARA Brokers 583-Unit Sale in Northwest Austin
A Canadian investment firm buys into Austin, Texas; Civitas Capital closes $53.5 million for a joint venture development in Dallas; and Bessen & Assoc. announces a sale near Natural History Museum for a historic price at 3.3 percent cap rate.
Economy Watch: Retail Sales Inch up in August
U.S. retail sales increased by a smallish 0.2 percent in August compared with July, according to the Census Bureau.
TODAY’S DEALS: Griffin-American Acquires 44 Seniors Housing Properties in the U.K.
Griffin-American Healthcare REIT II completes a $472.2 million U.K. portfolio acquisition; Landmark Apartment Trust of America acquires two apartment communities for $37 million; and Washington Property Co. obtains a $75 million permanent loan for new project in Silver Spring, Md.
Economy Watch: Housing Inventory, Median Prices Up
Realtor.com, which is part of the National Association of Realtors, reported on Thursday that the U.S. housing inventory recovery is broad and growing.
TODAY’S DEALS: CIM Group Buys D.C. Apartment Portfolio
CIM Group buys 449 units in Washington, D.C.; KW Commercial completes a luxury sale in West Los Angeles; and Dane PCG represents AIMCO in sale of a $6.6 million Section 8 property.
Economy Watch: Mortgage Applications Drop as Rates Rise
The Mortgage Bankers Association reported on Wednesday that mortgage refinance activity is at its lowest level since 2009.
TODAY’S DEALS: Oakland TOD Condo/Rental Sells for $103M
IPA brokers the sale of a264-unit luxury asset in Oakland, Calif.; NAI Capital completes a $4.3 million sale in Los Angeles; and NorthMarq arranges a $14 million FHA 223(f) loan to fund a conversion to very-low income housing.
Economy Watch: Negative Equity Dropping, But Still Persistent
In yet another report pointing to dropping negative equity among U.S. residential mortgage holders, CoreLogic said that about 2.5 million more residential properties returned to a state of positive equity during the second quarter of 2013.