Yardi Matrix: Appealing Austin
Austin’s steady economic and multifamily sector growth continues unabated, although the heavy supply pipeline is leading to fears about overdevelopment.
Consumer Spending Growth Tiny, Consumers Seem Nervous
Without growing income, retail spending is going nowhere, so it’s reasonably good news that U.S. personal income increased $57.4 billion, or 0.4 percent, in March according to the Bureau of Economic Analysis.
Economy Watch: FOMC Stands Pat Again
The Federal Open Market Committee declined to adjust the federal funds rate.
Economy Watch: Consumer Confidence Drops Modestly
The Conference Board reported that its Consumer Confidence Index declined moderately in April.
Economy Watch: CMBS Loses Severities Steady in ’15
U.S. CMBS loss severities are steady year-over-year, rising only slightly to 45.7 percent in 2015 from 44.8 percent in 2014, and further solidifying the historical average at 46.6 percent, according to a new report released recently by Fitch Ratings.
Manufacturing Not Rebounding from Slack Q1
U.S. manufacturing experienced a sluggish first quarter this year, and the prospects for a rebound aren’t looking great.
Economy Watch: Apartment Market Tightens, According to NMHC
A look at why consumer demand for apartments is declining.
Economy Watch: Architects Busier in March, Bodes Well for Construction Spending
The American Institute of Architects reported that the March Architecture Billings Index (ABI) came in at 51.9, up from the mark of 50.3 in February.
Market Pulse for May 2016
Market Pulse section compiled by Suzann Silverman. To comment, email ssilverman@cpexecutive.com. Multifamily Starts: After two consecutive months of declines, housing starts of buildings with five or more units rose in February 2016. On a seasonally adjusted annual rate basis, housing starts of buildings with five or more units increased by 2.4 percent over the month of February. Over the past 12 months, housing starts of buildings with five or more units climbed 16.8 percent, reversing the 12-month decline of 9.5 percent witnessed in January. Despite the increase over the past 12 months in housing starts of buildings with five or…
Top 10 NYC Multifamily Sales in March 2016
March 2016 records reveal an active month for NYC multifamily deals. Dive into the data from PropertyShark and discover who the top deal-makers of March were, as well as discovering the premium being put on apartment buildings compared to just a few years ago. 1. 760-774 3rd Avenue, Manhattan Sale Price: $270,000,000 Buyer: 160 East 48th Street Owner II LLC Seller: Buchanan Apartments LLC The biggest deal of the month goes to a joint venture between Madison Realty and USAA Real Estate. The ‘Buchanan’ building houses 299 apartments, as well as office and retail space. Almost 200 of the…