Yardi Matrix: Albuquerque Brightens Up
Multifamily Summer Report 2016: Population growth is feeble, but development is almost on par with the national growth rate.
Economy Watch: Residential Construction Spending Up in July
While total construction spending didn’t increase much in July, residential projects in the private sector saw a boost for the month.
Economy Watch: Job Growth in August Less Robust
The latest jobs report revealed an employment increase of 155,000, representing some growth but not as much as in recent months.
Matrix Monthly: August Rent Growth Cools Off
While year-over-year rent growth dipped slightly in August, fundamentals remain strong in many metros across the country.
Economy Watch: Despite Weak GDP, Few Worries from the Fed
While second-quarter GDP growth was relatively small, the Federal Reserve doesn’t seem discouraged from considering an interest rate increase.
Economy Watch: Is Airbnb Affecting Rents in Major Metros?
A new study by FiveThirtyEight reveals why Airbnb’s impact on rental markets is still small in most cities but could contribute to the country’s already severe housing shortage.
Top 10 NYC Multifamily Sales in July 2016
PropertyShark has compiled the 10 priciest multifamily property sales recorded in July 2016 in New York City. Keep reading to discover which areas were most popular, the types of deals being done, who some of the top deal makers are this summer and the borough that surprisingly claimed the top spot. Sale Price: $121,000,000 This seven-parcel deal includes properties at: 20-05 Shore Blvd. 20-25 Shore Blvd. 20-11 18th 20-32 19th 20-31 19th 20-11 20th 20-12 20th This new acquisition adds 444 Section 8 units to The Related Cos.’ portfolio. The firm has applied to add 53 more affordable housing…
Rent Growth
Rents were up 5.5%, down 10 basis points from June, 60 basis points from April and 120 basis points from the recent peak last October.
Market Pulse for September 2016
Market Pulse section compiled by Suzann Silverman. To comment, email ssilverman@cpexecutive.com. Multifamily Starts: Housing starts of buildings with five or more units rose by 1.6 percent over the month of June 2016 to a seasonally adjusted annual rate of 392,000. The month-over-month increase in June is the third consecutive month of recorded gains. Over this three-month period, the months covering the second quarter of 2016, starts of buildings with five or more units rose by 11.0 percent and the number of starts averaged 385,000 per month. The average number of housing starts of buildings with five or more units registered…
Market Pulse for August 2016
Michael Neal, a senior economist with the National Association of Home Builders (NAHB), gives commentary and data on interest rates, sales prices and more.