ALN Monthly Newsletter June 2017 via ALN Apartment Data

ALN Data just released their May 2017 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. Check out their new website.

Read more...ALN Monthly Newsletter June 2017 via ALN Apartment Data

DFW apartment leasing at the highest level in more than a decade via Dallas News

The booming local economy propelled second-quarter Dallas-Fort Worth apartment leasing to the highest level in more than a decade.

Net apartment leasing for the last three months totaled 11,311 units — the strongest quarterly performance since 2005, according to preliminary statistics from Richardson-based RealPage, which makes software for managing residential and commercial property leasing.

Apartment demand was strong enough to easily outpace the 7,086 new rental units coming on the market in the second quarter.

Read more...D-FW apartment leasing at the highest level in more than a decade | Real Estate | Dallas News

RealPage® and Axiometrics® Report Robust Apartment Demand in Q2 via Property Management Insider

Apartment demand surged to a near-record volume in the second quarter, according to real estate technology and analytics firm RealPage, Inc.

“Today’s strong demand for apartments reflects the combination of solid job formation, continued limited loss of renters to home purchase, and widespread availability of appealing new apartments,” said Greg Willett, chief economist for RealPage.

Read more...RealPage® and Axiometrics® Report Robust Apartment Demand in Q2

Dallas Builders Can't Keep Up With Demand for Apartments via Bloomberg

Demand for apartments in Dallas is getting out of hand. Between 2000 and 2015, New York added 212,000 rental units in buildings with at least five units, according to the National Multifamily Housing Council and the National Apartment Association. While less than what the city needs, it’s at least in the ballpark. Dallas, however, has built 144,000 such units, so the metro will have to almost double the pace of construction to meet estimated demand.

Read more...Dallas Builders Can't Keep Up With Demand for Apartments - Bloomberg

U.S. apartment vacancy rate edges up in second quarter: Reis via Reuters

The U.S. apartment vacancy rate increased in the second quarter and rents were higher, according to a report from Reis Inc (REIS.O).

The national vacancy rate rose slightly to 4.4 percent in the second quarter from 4.3 percent in the first quarter, the real estate research firm said.

Read more...U.S. apartment vacancy rate edges up in second quarter: Reis | Reuters

Texas Manufacturing Outlook Survey June 2017 via Dallas Fed

Texas factory activity increased in June, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, fell 11 points to 12.3, indicating output grew but at a slower pace than in May.

Other measures of current manufacturing activity also indicated that growth moderated. The new orders and growth rate of orders indexes fell several points each, coming in at 9.6 and 4.7, respectively. The capacity utilization index moved down to 12.3, and the shipments index retreated to 8.5 after surging last month.

Read more...Texas Manufacturing Outlook Survey - Dallasfed.org

DFW Economic Indicators, June 2017 via Dallas Fed

The Dallas–Fort Worth economy expanded in May, with payroll employment rising and growth in the Dallas and Fort Worth business-cycle indexes accelerating during the month. The unemployment rate dipped in Dallas and held steady in Fort Worth. Home prices climbed in the first quarter, while housing demand remained healthy and inventories tight.

2017–2018 Forecast: Class B and C Apartments Will Rule via Multifamily Executive Magazine

Domestic and global investment in multifamily housing is on the rise throughout the United States—especially for Class B and C properties. Several contributing factors have fostered this development, including an oversupply of Class A communities in combination with a drop in demand, the rising cost of homeownership, and millennials entering the market by the millions. In the midst of this trend, foreign investors have begun to take notice and make their own plays on U.S. multifamily real estate.

The end result: Unless we see a drastic shift in the economic climate, Class B and C multifamily housing will have the greatest potential for high returns in 2017 and well into 2018.

Read more...2017–2018 Forecast: Class B and C Apartments Will Rule | Multifamily Executive Magazine

Deal Volume Slips to 3-Year Low via GlobeSt.com

Commercial real estate investment activity reached a three-year quarterly low in the year’s first three months, falling below $100 billion for the first time since early 2014, Ten-X said Monday. The firm’s latest Commercial Real Estate Capital Trends report shows that at $90.9 billion, quarterly volume in the first quarter was 43% lower than its late-2015 peak, and 18% lower than the year-ago period.

Read more...Deal Volume Slips to 3-Year Low | GlobeSt.com

Dallas Metro Report: June 2017 via The Zumper Blog

The Zumper Dallas Metro Report analyzed active listings in May across 14 metro cities to show the most and least expensive cities and cities with the fastest growing rents.

Read more...Dallas Metro Report: June 2017 | The Zumper Blog

Texas Employment Forecast via Dallas Fed

Incorporating May employment growth of 2.4 percent and revised April leading index data into the Texas Employment Forecast suggests jobs will grow 2.6 percent this year (Dec/Dec), with an 80 percent confidence band of 1.6 to 3.6 percent.

The forecast increased from the Dallas Fed’s previous estimate of 2.4 percent. Based on the forecast, 309,200 jobs will be added in the state this year, and employment in December 2017 will be 12.4 million (Chart 1).

Read more...Texas Employment Forecast - Dallasfed.org

CRE Opinion: The Maturation of The North Dallas Multifamily Market via D Magazine

I have lived in North Dallas—aside from college in Austin—for nearly 50 years. In fact, we moved to Dallas when LBJ Freeway was under construction and anything north of LBJ was considered the boondocks. We hunted birds just east of what is now CityLine in Richardson. The growth in North Dallas, in every respect, has been nothing less than spectacular. What once was a relatively young area has matured into one of the more dynamic areas of the country.

The northern Dallas communities offer a high quality of life and are an ideal venue for raising families. There are probably more golf courses in North Dallas than any area in Dallas-Fort Worth. Schools are one of the primary calling cards for this area as most districts are rated exemplary or outstanding.

Read more...CRE Opinion: The Maturation of The North Dallas Multifamily Market - D Magazine

Few Cracks Showing in the Apartment Sector via National Real Estate Investor

Average apartment rents are increasing across the country. And despite all the new units that have become available, renters keep showing up to leasing offices, keeping the average vacancy rate in the sector relatively low.

“Stabilization is a word that comes up over and over,” says Greg Willett, chief economist for RealPage and its subsidiary MPF Research.

Read more...Few Cracks Showing in the Apartment Sector

Three Strikes: Multifamily Growth Slows for Third Consecutive Month via Multi-Housing News Online

While multifamily rents increased during the month of May, the rate of growth decelerated for the third month in a row, Yardi Matrix reported in its monthly rent survey. Average U.S. rents increased $4 to $1,316, the survey of 121 markets revealed, while on a year-over-year basis, rents increased 1.5 percent, a 40-basis-point decrease from April. May’s growth rate is 90 points less than March’s was and a considerable deceleration from the 5.3 percent rate seen during the same time last year.

Read more...Three Strikes: Multifamily Growth Slows for Third Consecutive Month

Apt. Rents Maintain 13-Month Streak of Slowing Growth via GlobeSt.com

Although multifamily rents nationwide increased in May for the third month in a row, Yardi Matrix is continuing to chart a deceleration in the growth rate. Average US monthly rents rose $4 to $1,316, according to Yardi Matrix’s monthly survey of 121 markets.

On a year-over-year basis, rents were up 1.5% nationwide in May. The Y-O-Y growth rate was down 40 basis points from April, 90 bps from March and well below the 5.3% growth rate of a year ago.

Read more...Apt. Rents Maintain 13-Month Streak of Slowing Growth | GlobeSt.com