Texas factory activity contracted again in February, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, remained negative but edged up from -10.2 to -8.5, suggesting output declined but at a slightly softer pace than in January.
Read more...Texas Manufacturing Outlook Survey - Dallas Fed
Monday, February 29, 2016
Apt. Market Facing Slower Lease-Up of New Construction in 2016 via CoStar Group
The U.S. apartment market continued its biggest boom in history in 2015, hitting historical highs in rental rate growth, investment sales and new construction while matching the previous year's strong absorption and occupancy growth.
However, much of those gains were achieved in the first six months of the year. The market slowed considerably in the second half, as lease-up of newly delivered apartment projects cooled and rent growth plateaued, particularly in the fourth quarter.
Read more...Apt. Market Facing Slower Lease-Up of New Construction in 2016 - CoStar Group
However, much of those gains were achieved in the first six months of the year. The market slowed considerably in the second half, as lease-up of newly delivered apartment projects cooled and rent growth plateaued, particularly in the fourth quarter.
Read more...Apt. Market Facing Slower Lease-Up of New Construction in 2016 - CoStar Group
Housing 9 Million New Renters in the United States via Urban Land Magazine
According to America’s Rental Housing: Expanding Options for Diverse and Growing Demand, released by Harvard’s Joint Center for Housing Studies (JCHS), the United States has seen an unprecedented increase in those living in rental housing, with nearly 9 million rental households added since 2005. With 42.6 million families and individuals now renting, vacancy rates for rental housing have plummeted to 30-year lows (7.1 percent nationally), and inflation-adjusted rents have increased annually by an average of 3.5 percent.
Read more...Housing 9 Million New Renters in the United States - Urban Land Magazine
Read more...Housing 9 Million New Renters in the United States - Urban Land Magazine
Friday, February 26, 2016
Apartment Market Yet to Hit Peak via REIT.com
In the latest episode of the NAREIT Podcast, David Kessler, partner with CohnReznick, discussed major themes in the apartment and office markets.
Regarding the multifamily sector, Kessler noted that speculation is growing that the sector is approaching its peak. He rebutted that suggestion, however.
"I think [the multifamily sector] has a long way to go still because we're so far away from the norms as far as supply and demand," Kessler said.
Read more...Apartment Market Yet to Hit Peak | REIT.com
Regarding the multifamily sector, Kessler noted that speculation is growing that the sector is approaching its peak. He rebutted that suggestion, however.
"I think [the multifamily sector] has a long way to go still because we're so far away from the norms as far as supply and demand," Kessler said.
Read more...Apartment Market Yet to Hit Peak | REIT.com
Shifting Demographics Continue to Impact Urban Growth via GlobeSt.com
Urban residents are increasingly focused on live/work/play environments and, even in the Texas heat, walkability. The shift from suburban sprawl to downtown living is making its way into the region, as evidenced by the growing downtown development, says CBRE.
Shifting demographics also continue to make a dramatic impact on urban cores throughout the region. The next generation of Texans, millennials, currently make up 40% of CBD residents—a number projected to increase to 53% by 2020.
Read more...Shifting Demographics Continue to Impact Urban Growth | GlobeSt.com
Shifting demographics also continue to make a dramatic impact on urban cores throughout the region. The next generation of Texans, millennials, currently make up 40% of CBD residents—a number projected to increase to 53% by 2020.
Read more...Shifting Demographics Continue to Impact Urban Growth | GlobeSt.com
Dallas leads the state with over 4,600 downtown area apartments being built via Dallas Morning News
Dallas now leads the state in center city apartment construction with more than 4,600 units in the pipeline.
About 1,900 of the new apartments are going up in downtown Dallas and another 2,700 apartments are going up in the adjoining Uptown district, according to CBRE.
More than a dozen high-rise projects are in the works in central Dallas, the commercial real estate firm found.
Read more...Dallas leads the state with over 4,600 downtown area apartments being built | | Dallas Morning News
About 1,900 of the new apartments are going up in downtown Dallas and another 2,700 apartments are going up in the adjoining Uptown district, according to CBRE.
More than a dozen high-rise projects are in the works in central Dallas, the commercial real estate firm found.
Read more...Dallas leads the state with over 4,600 downtown area apartments being built | | Dallas Morning News
In Contrarian Play, Multifamily Investors Still Taking a Chance on Houston via CoStar Group
Despite collapsed oil pricing, multifamily investors have not shied away from acquiring Houston apartment projects.
Last year’s volume of deals at about $3 billion was $500 million less than in 2014, but it was also $500 million higher than in 2013, according to CoStar data.
The average sale price per unit also has continued to climb from about $50,000/unit at the start of 2013 to about $110,000/unit at the end of last year.
And investors still seem to be targeting the energy dominant market this year.
Read more...In Contrarian Play, Multifamily Investors Still Taking a Chance on Houston - CoStar Group
Last year’s volume of deals at about $3 billion was $500 million less than in 2014, but it was also $500 million higher than in 2013, according to CoStar data.
The average sale price per unit also has continued to climb from about $50,000/unit at the start of 2013 to about $110,000/unit at the end of last year.
And investors still seem to be targeting the energy dominant market this year.
Read more...In Contrarian Play, Multifamily Investors Still Taking a Chance on Houston - CoStar Group
Wednesday, February 17, 2016
Retirement living: Renters are outpacing homeowners via CNBC.com
Don't look now, but it's getting harder for older Americans to hold on to a key piece of the American dream.
Homeownership patterns are shifting for Americans over age 55, even as the senior population grows. Particularly among those age 55 to 64, renting is becoming more common, and that trend is likely to continue, according to Rolf Pendall, director of the Metropolitan Housing and Communities Policy Center at the Urban Institute.
Read more...Retirement living: Renters are outpacing homeowners
Homeownership patterns are shifting for Americans over age 55, even as the senior population grows. Particularly among those age 55 to 64, renting is becoming more common, and that trend is likely to continue, according to Rolf Pendall, director of the Metropolitan Housing and Communities Policy Center at the Urban Institute.
Read more...Retirement living: Renters are outpacing homeowners
ALN Monthly Newsletter February 2016 via ALN Apartment Data
ALN Data just released their January 2016 stats on occupancy and rents for 23 markets. In Texas, it includes DFW, Austin, Houston, San Antonio, Lubbock, Amarillo, Abilene and Corpus Christi. It is a must read from a great provider of apartment data.
Read more...ALN Monthly Newsletter February 2016 via ALN Apartment Data
Read more...ALN Monthly Newsletter February 2016 via ALN Apartment Data
Wednesday, February 10, 2016
Austin Economic Indicators February 2016 via Dallas Fed
The Austin economy continued to expand in December. The Austin Business-Cycle Index grew strongly, but job growth moderated to a modest 1.1 percent annualized rate. The unemployment rate fell slightly, reflecting further tightness in the local labor market. For 2015 overall, Austin saw job growth of 4.5 percent—the fastest pace since 2012 and triple the state’s 1.5 percent rate.
Read more...Austin Economic Indicators February 2016 via Dallas Fed
Read more...Austin Economic Indicators February 2016 via Dallas Fed
Wednesday, February 3, 2016
Houston Economic Indicators February 2016 via Dallas Fed
Employment continued to grow in Houston last year. The metro area added 100,200 fewer jobs than in 2014, thanks to the sharp decline in oil prices. However, the most recent economic indicators continue to suggest that the region skirted recession. International trade and real estate markets have softened, and losses in goods-producing sectors continue to be offset by growth in services. Overall, the outlook for the region remains tepid.
Read more...Houston Economic Indicators February 2016 via Dallas Fed
Read more...Houston Economic Indicators February 2016 via Dallas Fed
Austin's apartment market gears up for another robust year, report says via Austin Business Journal
Austin's apartment market is as strong as ever and gearing up for another huge round of development, according to the latest Austin Multi-Family Trend Report published by Austin Investor Interests LLC.
Even as thousands of units have been added to the apartment inventory in the past three years, another 15,000 units are expected to be delivered in 2016. Apartments are being leased up as soon as they are finished, and rents continue an upward trek, though perhaps more slowly, especially among luxury product.
Read more...Austin's apartment market gears up for another robust year, report says - Austin Business Journal
Even as thousands of units have been added to the apartment inventory in the past three years, another 15,000 units are expected to be delivered in 2016. Apartments are being leased up as soon as they are finished, and rents continue an upward trek, though perhaps more slowly, especially among luxury product.
Read more...Austin's apartment market gears up for another robust year, report says - Austin Business Journal
Apartment Rents Jump in January via Commercial Property Executive
After four months of what looked like slowing, multifamily rents are back and bigger than ever. The average national rental rate rose $5 this month to a record $1,170, displacing September and October’s peak of $1,166 last year. According to Yardi Matrix’s monthly report for January, year-over-year rent growth was just as robust, with a 6.4 percent increase over last year. Though the report states that Yardi Matrix is forecasting more moderate rent gains in 2016, growth is clearly surpassing the long-term average of 2.8 percent.
Read more...Apartment Rents Jump in January
Read more...Apartment Rents Jump in January
February 2016 Texas Apartment List Rent Report via Apartment List Rentonomics
Welcome to the February 2016 Texas Apartment List Rent Report. Rents in the Lone Star State remain just below average, and in this report, we’ll evaluate trends across the whole state as well as variations between cities.
In Texas, rents decreased by 0.1% between December and January, but have grown 3.5% over last year. A 1-bedroom in Texas averages $990, while a 2-bedroom costs $1,200.
Read more...February 2016 Texas Apartment List Rent Report - Apartment List Rentonomics
In Texas, rents decreased by 0.1% between December and January, but have grown 3.5% over last year. A 1-bedroom in Texas averages $990, while a 2-bedroom costs $1,200.
Read more...February 2016 Texas Apartment List Rent Report - Apartment List Rentonomics
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