National
Builders and Lumber Dealers See Shortages of Key Building Materials
Home builders and lumber dealers are reporting significant shortages of key home building materials such as lumber and wall board, according to recent surveys by the National Association of Home Builders (NAHB) and the National Lumber and Building Material Dealers Association (NLBMDA).
TODAY’S DEALS: Pacifica Acquires Florida Community for $33M
IPA completes a 400-unit sale in Florida; Colliers negotiates a 110-unit student housing disposition in Tempe; and Centerline Capital provides $3.7 million to refinance a property in Oak Park, Ill.
Economy Watch: Housing Starts Up
Homebuilders were reported to be more optimistic on Tuesday, and on Wednesday they had some reason to be, though not quite to the level of irrational exuberance: housing starts in May came in at an annualized rate of 914,000 units, according to the Census Bureau.
TODAY’S DEALS: Bascom Arizona Closes 432-Unit Acquisition in Phoenix
Bascom Arizona Ventures completes its 10th buy in the past 12 months; The RADCO Cos. buys a 208-unit asset in Illinois; and Lucent Capital provides an $11.83 million loan.
Commercial/Multifamily Mortgage Debt Outstanding Falls Slightly in Q1
The level of commercial/multifamily mortgage debt outstanding decreased by $4.9 billion, or 0.2 percent, in the first quarter of 2013, the first quarterly decrease since the third quarter of 2011, according to the Mortgage Bankers Association (MBA).
Economy Watch: Homebuilders Happy
American homebuilders have finally climbed out of their crummy funk, according to the National Association of Home Builders.
TODAY’S DEALS: Steadfast Adds Three Assets to Portfolio in $62M Acquisition
Steadfast Income REIT acquires 642 units; ARA brokers a sale in Virginia; and NorthMarq arranges a $16.7 million mortgage from a life insurance company.
Related Companies’ National Portfolio Goes Smoke-Free
Related Companies, a privately owned real estate company, announced that its entire national portfolio is going smoke free. This portfolio contains more than 40,000 luxury, workforce and affordable communities located across the country in 17 states.
Builder Confidence Hits Major Milestone in June
Builder confidence in the market for newly built single-family homes hit a significant milestone in June, surging eight points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today.
Marcus & Millichap Outlook: Economy Scoring Steady Gains
The U.S. economy is experiencing a slow, steady expansion in spite of recurrent headwinds, Marcus & Millichap reports in its mid-year apartment market outlook.