Friday, July 23, 2021

Will Renting Become the New Status Quo? via D Magazine

We see the headlines every day: Housing demand is high, inventory is low, and builders are facing post-pandemic delays in materials. And with multiple cash offers—often significantly above asking price—the middle class has been virtually priced out of the Dallas-Fort Worth housing market.

The most recent S&P CoreLogic Case-Shiller Indices shows Dallas’ home prices surged 15.9 percent in April—the region’s all-time highest 12-month gain. This has led some potential buyers to forfeit the idea of buying a home altogether and opt instead for the flexibility and convenience of renting. Here are six reasons why they’re choosing multifamily renting over single-family homebuying.

Read more...Will Renting Become the New Status Quo? via D Magazine

Thursday, July 22, 2021

NMHC: July Apartment Market Tightness Index Highest on Record via Calculated Risk

The National Multifamily Housing Council (NMHC) released their July report: July Apartment Market Conditions Showed Improvement Across All Metrics

Apartment market conditions showed continued improvement in the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions for July 2021. For the first time since October 2015, the Market Tightness (96), Sales Volume (79), Equity Financing (69), and Debt Financing (71) indexes all came in above the breakeven level (50).

Read more...NMHC: July Apartment Market Tightness Index Highest on Record via Calculated Risk

Dallas is the country’s top commercial property investment market for 2021 via Dallas News

The Dallas area was the country’s top market for commercial property investments in the first half of 2021.

Dallas retained the top real estate spot it gained last year during the start of the COVID-19 pandemic, according to a new report by Real Capital Analytics.

Through the first six months of this year, Dallas saw almost $13.4 billion in commercial property deals — 43% more than in the same period a year ago.

Read more...Dallas is the country’s top commercial property investment market for 2021 via Dallas Morning News

Tuesday, July 20, 2021

Texas Economic Indicators July 2021 via Dallas Fed

Texas’ economic recovery continued in June as payrolls grew and the unemployment rate declined. However, total Texas unemployment claims ticked up in the week ending June 26. Texas Business Outlook Surveys respondents indicated continued growth in manufacturing and services but contraction in retail. Texas exports increased in May, and median home prices rose in major Texas metros, largely driven by North Texas. Retail sales ticked up in May to a record high.

Read more... Texas Economic Indicators July 2021 via Dallas Fed

Texas Supreme Court extends state program to help tenants avoid eviction until Oct. 1 via Texas Tribune

A state eviction diversion program launched in response to the COVID-19 pandemic has been extended, according to a new emergency order from the Texas Supreme Court released on Monday.

The diversion program was set to expire on July 27. The new order extends it until Oct. 1.

Read more...Texas Supreme Court extends state program to help tenants avoid eviction until Oct. 1 via Texas Tribune

Monday, July 19, 2021

DFW leads the country in apartment leasing via Dallas News

The Dallas-Fort Worth area led the country in apartment demand during the most recent quarter.

Net apartment leasing in North Texas reached a record 15,400 units in the three months ending in June, according to the latest report by analysts at RealPage.

That was more than any other major U.S. metro area.

Read more...D-FW leads the country in apartment leasing via Dallas Morning News

Thursday, July 15, 2021

ALN Monthly Market Stats July 2021 via ALN Apartment Data

ALN Data just released their May 2021 market stats on occupancy and rents for over 80 markets. In Texas, it includes DFW, Austin, Houston, San Antonio, Lubbock, Amarillo, Abilene, Corpus Christi and more. It is a must read from a great provider of apartment data.

Read more...ALN Monthly Market Stats July 2021 via ALN Apartment Data

Wednesday, July 14, 2021

Eleventh District Beige Book 7/14/21 via Dallas Fed

Solid expansion continued in the Eleventh District economy. Growth in the manufacturing and nonfinancial services sectors was strong, though activity remained somewhat below pre-pandemic levels. Retail sales dipped as supply chain issues hampered activity. Home sales remained elevated, but buyer traffic and interest cooled off slightly. Apartment demand surged, pushing up rents. Retail leasing picked up, while office demand stayed weak. Overall loan volumes rose broadly. Energy activity and agricultural conditions saw moderate improvement. Employment growth was moderate, and upward wage pressures increased with labor shortages being a significant issue for many firms. Ongoing supply chain disruptions intensified price pressures. Outlooks improved, though uncertainty increased, and a much larger share of respondents was experiencing supply chain challenges compared with earlier in the year.

Read more...Eleventh District Beige Book 7/14/21 via Dallas Fed

Monday, July 12, 2021

Rent prices are soaring as Americans flock back to cities via The Washington Post

Lauren Campos opened the door to her Phoenix apartment last week to find a note stuck in the door frame. Her rent was going up nearly $400 a month, the note said, a 33 percent increase.

Campos and her fiancee read the letter in shock. The property management company gave them four days to decide whether to commit to stay or leave by the end of July. They spent the rest of the day poring over apartment listings online, only to realize that they would either have to move or downsize from their two-bedroom place to a one-bedroom.

Read more...Rent prices are soaring as Americans flock back to cities via The Washington Post

Friday, July 9, 2021

Dallas-Fort Worth Economic Indicators July 2021 via Dallas Fed

Recovery in the DFW economy continued in May. Payroll gains were broad based across sectors, the unemployment rate dipped, and the business-cycle indexes for Dallas and Fort Worth grew at a healthy clip. However, the recovery remains uneven and far from complete. Apartment demand ramped up in April and May, strengthening occupancy and rents. Apartment construction dipped in May but is up year to date.

Read more...Dallas-Fort Worth Economic Indicators July 2021 via Dallas Fed