Austin Economic Indicators August 2022 via Dallas Fed

Austin’s economy recorded solid growth in June. The Austin Business-Cycle Index expanded at a greater rate than in May, as the unemployment rate remained low and Austin’s employment growth accelerated. COVID-19 hospitalizations continued to increase with the transmission of the new variants. House prices in Austin declined slightly, while the state’s prices ticked up in the past month.

Read more...Austin Economic Indicators August 2022 via Dallas Fed

Dallas-Fort Worth Economic Indicators August 2022 via Dallas Fed

The Dallas–Fort Worth economy expanded broadly in June. Payroll employment grew at a 3.2 percent annualized pace, bolstering growth in the Dallas and Fort Worth business-cycle indexes. In late July, dining out was slightly below prepandemic levels, and COVID-19 cases were trending upward. Activity in the office market continued to recover in the second quarter, pushing down vacancy rates, and industrial leasing and construction remained remarkably strong.

Read more...Dallas-Fort Worth Economic Indicators August 2022 via Dallas Fed

July’s Multifamily Rent Increase Was Best in a Decade – Except for Last Year via GlobeSt

Peak apartment rent growth – as well as the historically high-performance levels seen in 2021 – are by all accounts in the rearview mirror, according to data released this week by RealPage.

Effective asking rents increased by 0.8% from June to July, which represents about one-third of how they performed a year earlier. That moderation was as expected, RealPage said.

Read more...July’s Multifamily Rent Increase Was Best in a Decade – Except for Last Year via GlobeSt

Renters Finally See Market Starting to Cool After Record Growth via WSJ

After more than a year of record run-ups in apartment rents, growth is starting to cool off, a trend that could help housing affordability and ease the rise in overall inflation, according to several market measures.

Nationally, average apartment rents rose 9.4% in the second quarter of 2022 compared with the same quarter in 2021, according to data firm CoStar Group. While that is high by historical standards, it is down from the more than 11% annual increases seen the previous two quarters, CoStar said.

Read more...Renters Finally See Market Starting to Cool After Record Growth via WSJ

Signs of Slowdown Growing in Texas; Price Pressures Ease via Dallas Fed

The Texas economy continued expanding in June and July, though at a decelerating pace compared with earlier this year. There are increasing signs of slowing activity—particularly weakening demand in manufacturing—even as overall job growth remains strong.

Business outlooks were negative, and price and wage pressures eased in July. Home prices in some metros appear to have peaked, and apartment rent increases are slowing.

Read more...Signs of Slowdown Growing in Texas; Price Pressures Ease via Dallas Fed

Ten Issues That Will Impact CRE for Rest of 2022 via GlobeSt

LaSalle is expecting a high-impact second half of 2022, according to its Mid-Year Update.

The firm provided the top 10 issues it believes could steer commercial real estate’s direction, including those related to bonds, returns, capital flows, expenses, energy, construction and central banks.

Read more...Ten Issues That Will Impact CRE for Rest of 2022 via GlobeSt

Despite Pressure on Cap Rates, Multifamily Well Positioned for H2 via GlobeSt

With apartment rent growth remaining high at the midpoint of 2022 and continued tight market availability, the multifamily sector is well positioned for the second half of 2022, according to a new report from Freddie Mac. However, there are headwinds appearing.

Read more...Despite Pressure on Cap Rates, Multifamily Well Positioned for H2 via GlobeSt

Apartment Rent Growth Continues to Slow in July via GlobeSt

Continuing a year-long trend, apartment rent growth was slower in July than in June, rising by 1.1%, a slightly slower rate of growth than the previous month, according to the August 2022 Apartment List National Rent Report.

Rents are, however, rising faster than in the years just prior to the pandemic, and for the first seven months are up 6.7 percent, nationally. In 2021 at this point, they were up 12 percent.

Read more...Apartment Rent Growth Continues to Slow in July via GlobeSt

Austin Economic Indicators July 2022 via Dallas Fed

Austin’s economy continued to grow in May, though at a slower pace. The Austin Business-Cycle Index expanded at a moderated rate, as the unemployment rate ticked down to a new low since the pandemic, but Austin’s employment growth slowed from April’s pace. COVID-19 hospitalizations increased notably ahead of the Fourth of July weekend. Permits for new-home construction flattened out in May, while continued increases in home prices pushed affordability further below the national average.

Read more...Austin Economic Indicators July 2022 via Dallas Fed

Houston Economic Indicators July 2022 via Dallas Fed

Houston job growth continues to show strength, but there are otherwise signs of slowing. A preliminary reading of leading indicators for Houston turned negative for the first time since the pandemic, the number of diners at restaurants has slipped, and COVID-19 hospitalizations are accelerating again. While these data suggest slower growth in the second half of 2022, the outlook for Houston remains healthy.

Read more... Houston Economic Indicators July 2022 via Dallas Fed