June 2014

Multifamily housing starts fell for the third consecutive month in February 2014, according to the National Association of Home Builders (NAHB).

Click here for multifamily market statistics featured in the May 2014 issue of MHN.

 

Multifamily housing starts fell for the third consecutive month in February 2014, according to the National Association of Home Builders (NAHB).

The seasonally adjusted annual start rate of 312,000 units during the month exceeded the average level recorded between 2000 and 2003 by 2.4 percent.

Meanwhile, existing condo and co-op sales prices, not seasonally adjusted, rose by 9.8 percent over the past 12 months, states NAHB.

The balance of commercial mortgage held by banks increased to its highest level on record, according to the Mortgage Bankers Association (MBA). The balance registered at $1.1 trillion in the fourth quarter.

Across commercial and multifamily mortgages, net lending has increased by nearly $65 billion over the last year, MBA states.