National
Economy Watch: Housing Starts Continue Upward Trajectory
Housing starts were up in March to an annualized rate of about 1.03 million units, according to the Census Bureau.
TODAY’S DEALS: Kennedy Wilson Adds 188-Unit Asset to Calif. Portfolio
Kennedy Wilson completes a $34 million acquisition; American Campus Communities enters a referral agreement with the University of South Florida; and NorthMarq arranges a $28.2 million Fannie Mae mortgage.
Housing Starts Rise on Strength in Multifamily in March
Soaring production of multifamily apartments pushed nationwide housing starts beyond the million-unit mark for the first time since 2008 in March, according to newly released figures from HUD and the U.S. Census Bureau.
Economy Watch: Homebuilder Confidence Slips
As the U.S. residential market improved throughout 2012, homebuilders grew more optimistic month by month, but now the trend has gone in reverse.
TODAY’S DEALS: RHP Properties Buys $865M in Manufactured Housing
RHP Properties becomes the nation’s largest private manufactured housing owner; and ARA sells a 250-unit community in Houston.
Economy Watch: Retail Sales Off in March
Consumers pulled back their spending in March, according to the Census Bureau, with total U.S. retail sales down 0.4 percent month-over-month.
TODAY’S DEALS: Seattle Apartment Property Sells at Record $518 Per Square Foot
The $14.65 million sales price of Elliott Bayview equates to $357,317 per unit; and a top FHA lender Greystone originates four HUD loans for more than $43 million.
Economy Watch: Americans Borrowing More (for Schooling)
The Federal Reserve reported that total consumer credit was up at an annualized rate of 7.8 percent in February, compared with a 5.5 percent increase in January.
APARTMENT MARKET STATISTICS: April 2013
Condo prices showed the first annual increase since 2007, registering a gain of 7 percent in 2012, according to the National Association of Home Builders.
APARTMENT MARKET STATISTICS: March 2013
Multifamily permits are now being issued at a rate of more than 300,000 units per year, according to the National Association of Home Builders.