National
NAHB: Shortage of Lots Slows Housing Recovery
A shortage of buildable lots, especially in the most desirable locations, has emerged as one of the key factors holding back a more robust housing recovery, according to the latest survey on the topic conducted by the National Association of Home Builders.
TODAY’S DEALS: AIMCO Acquires a Luxury Atlanta Community
Colliers closes a 30-unit sale in Atlanta; Equus buys a 251-unit community in Missouri; and Starlight acquires an interest in a Texas asset.
Economy Watch: Construction Spending Edges Up, No Thanks to Sequestration
Construction spending saw an uptick of 0.6 percent in July compared with June, according to the Census Bureau.
Economy Watch: Serious Mortgage Delinquencies Continue to Drop
Fannie Mae reported that the single-family serious delinquency rate for mortgages and it owns or insures declined in July to 2.7 percent from 2.77 percent in June.
TODAY’S DEALS: Greystar Acquires $460M Portfolio
Greystar acquires 4,371 units from Inland; IPA completes a bulk condo sale in Yonkers, N.Y.; and Beech Street Capital provides $36.5 million for an Alabama apartment asset.
TODAY’S DEALS: Inland Acquires 146 Units in Florida
Inland Real Estate Acquistions buys a townhome development; and Greystone originates $6.7 million for a Florida acquisition.
Economy Watch: Negative Equity Continues to Drop
Zillow said that it estimates that the national negative equity rate fell to 23.8 percent of all homeowners with a mortgage during the second quarter, down from 25.4 percent in the first quarter.
TODAY’S DEALS: Grosvenor Americas Acquires San Francisco Apartment Asset
Grosvenor Americas buys 195 units; Marcus & Millichap brokers a 31-unit sale in Virginia; and NorthMarq Capital arranges a $20.3 million Freddie Mac mortgage.
Apartment and Condominium Market Gains Momentum in Second Quarter, According to NAHB
Production of apartments and condominiums gained momentum in the second quarter of 2013, according to the latest Multifamily Production Index, released today by the National Association of Home Builders.
Economy Watch: Pending Home Sales Dip
Upward-creeping mortgage interest rates seem to be affecting home sales, or least pending sales in some markets.