Monday, July 31, 2017

In Volume Dropoff, It’s 2017, Not 2007 via

Second-quarter investment sales volume was predictably off on a year-over-year basis in the Q2 US Capital Trends report from Real Capital Analytics. However, RCA cautions industry members not to make too much of the 5% Y-O-Y drop.

Read more...In Volume Dropoff, It’s 2017, Not 2007 |

NAA and RealPage Release the 2017 Market Momentum Q2 Report via Property Management Insider

The hottest markets for investing, rent performance and resident retention have been announced in the National Apartment Association’s Market Momentum Report, produced in partnership with RealPage. The Market Momentum Report is a survey of industry decision-makers about business plans, expectations and trends in the apartment housing industry.

Read more...NAA and RealPage Release the 2017 Market Momentum Q2 Report

Friday, July 28, 2017

ALN Monthly Market Stats July 2017 via ALN Apartment Data

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

Read more...ALN Monthly Market Stats July 2017 via ALN Apartment Data

Apt. Rent Growth Breaks Slowdown Streak via

After decelerating for more than a year, US multifamily rents stepped on the gas in June, according to Yardi Matrix’s latest monthly survey of 121 US metro areas. Rents nationwide were up by an average of $12 last month, marking the biggest monthly increase in several years and the first time since January 2016 in which the rate of year-over-year growth increased from the prior month.

Read more...Apt. Rent Growth Breaks Slowdown Streak |

Thursday, July 27, 2017

Apartment Pricing Gains Take a Pause via

The key takeaway from Ten-X’s latest Commercial Real Estate Nowcast may be not so much “how the mighty have fallen,” but rather that the mighty fell in the first place. “The mighty,” in this case, is multifamily, which posted its first monthly pricing decline since late 2015, suggesting that although the sector has been the strongest and most consistent performer among property types, it’s not invulnerable.

Read more...Apartment Pricing Gains Take a Pause |

Wednesday, July 26, 2017

Dallas-Fort Worth Economic Indicators July 2017 - Dallas Fed

The Dallas–Fort Worth economy continued its expansion in June, albeit at a slower pace than in May. Job growth was nearly flat, and expansion in the Dallas and Fort Worth business-cycle indexes moderated. The unemployment rate held steady in Dallas but dipped in Fort Worth. Residential construction rose in May, in part driven by the expanding DFW economy.

Read more...Dallas-Fort Worth Economic Indicators -

Monday, July 24, 2017

Dallas-area apartment rent growth slowed in June via Dallas News

The run up in Dallas-area apartment rents may be easing.

During June Dallas-area rents were just 2.4 percent ahead of where they were a year ago, according to new numbers from Richardson-based apartment researcher Axiometrics.

That's the smallest annual increase in the Dallas area in seven years and the first time in recently that the rise in Dallas rents was less than the national average.

Rad more...Dallas-area apartment rent growth slowed in June | Real Estate | Dallas News

How Hot is the Multifamily Market? via

The US apartment market is recording new highs in apartment deliveries. More than 345,000 new apartments are scheduled to be completed this year in large-scale developments. In other words, more units are set for 2017 than in the last 20 years.

According to Yardi Matrix senior analyst Doug Ressler, all this new construction may work in the renters’ favor, at least in the near future.

Read more...How Hot is the Multifamily Market? |

Renter Households Reach 50-Year High via

The percentage as well as number of US households led by renters is at the highest level in more than 50 years, the Pew Research Center reported this week. The research organization’s analysis of Census Bureau housing data found that growth in the percentage of renters extends across a variety of demographic factors, including age, education level and ethnicity.

Read more...Renter Households Reach 50-Year High |

Texas Employment Forecast via Dallas Fed

Incorporating June employment growth of 3.6 percent and new leading index data into the Texas Employment Forecast suggests jobs will grow 2.8 percent this year (December/December), with an 80 percent confidence band of 2.0 to 3.6 percent.

The forecast increased from the Dallas Fed’s previous estimate of 2.6 percent. Based on the forecast, 336,000 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 -

Texas Economy Adds 40,200 Jobs in June via Texas Workforce Commission

The Texas economy expanded in June for the 12th consecutive month with the addition of 40,200 seasonally adjusted nonfarm jobs. Texas’ seasonally adjusted unemployment rate fell to 4.6 percent, down from 4.8 percent in May. Texas’ annual employment growth outperformed the previous two years with 319,300 jobs added over the year, bringing the state’s annual growth rate up by 0.4 percentage points to 2.7 percent.

Read more...Texas Economy Adds 40,200 Jobs in June | Texas Workforce Commission

Wednesday, July 19, 2017

Urban Core Performance Diverges in High-Development Metros via MPF Research

Apartment construction activity among the nation’s largest and most active apartment markets during this part of the cycle has been disproportionately focused in urban core areas. The total number of apartment units completed in central business districts make up a small share of the total completion volumes of the most active metros. New urban units, however, have yielded high inventory growth rates for these downtown areas. Rapid inventory growth has affected performance in urban core submarkets to varying degrees.

Rad more...Urban Core Performance Diverges in High-Development Metros - MPF Research

Thursday, July 13, 2017

Eleventh District Beige Book 7/13/2017 via Dallas Fed

The Eleventh District economy continued to expand at a moderate pace over the past six weeks. Manufacturing output rose, and activity in nonfinancial services increased. Growth in retail sales slowed, while auto sales dipped. Housing demand grew, lending activity increased, and the energy sector saw continued improvement. Crop conditions were mostly favorable. Employment and wages rose, as did prices. Outlooks remained positive, although some contacts noted uncertainty regarding changes in trade and healthcare policy as well as tax reform.

Read more...Eleventh District Beige Book -

Wednesday, July 12, 2017

From Macro to Micro: The Economy Going Forward via

Tired of hearing of the Great Wait-and-See as the industry taps its collective foot in preparation for coming regulation? Making long-range acquisition or development decisions can be dicey in such an atmosphere.

In this exclusive Q&A, locally-based research director for RED Capital Group, Dan Hogan takes us through the landscape and provides us with some sure bets–and not so sure bets–all of which can help owners and developers alike navigate the current choppy waters.

Read more...From Macro to Micro: The Economy Going Forward |

Monday, July 10, 2017

Renter Interest in Homeownership Rises in Q1 2017 via Multifamily Executive Magazine

According to a new analysis by multifamily data firm TransUnion, 55% of mortgage shoppers in the first quarter of 2017 were identified as “nonhomeowners,” a category that consists largely of renters. This represents a significant shift in the mortgage market over time, up from 50% of mortgage shoppers in the first quarter of 2016 and 45% in Q1 2015.

At the same time, a rising number of potential home buyers are millennials, who have traditionally shown a preference for rental units.

Read more...Renter Interest in Homeownership Rises in Q1 2017 | Multifamily Executive Magazine

Renters Find It Pays to Stay Put via

For apartment renters, it can literally pay to renew their existing leases. Zillow said Friday that market-rate rents increased at a faster pace year over year than did rents for tenants who renewed. The firm analyzed 2015 rent data from the US Census American Community Survey, the most recent data available.

The Y-O-Y increase for renters who renewed in ’15 was 3.6%, compared to a 5.6% rise in rent for beginning a new lease. Dollar-wise, that means a renter who had moved in the past year paid an average of $329 more each month than a renter who had lived in the same place for five years or longer.

Read more...Renters Find It Pays to Stay Put |

You think DFW apartment rents are too high? You ain't seen nothing yet via Dallas News

Dallas-Fort Worth apartment renters who've been pining for a slowdown in rent increases are going to have to keep waiting.

Despite near-record building activity, apartment landlords continue to dial up monthly rents in the area. During the second quarter, average D-FW apartment rents hit a new high of $1,082 a month, according to the latest data from Richardson-based RealPage.

Read more...You think D-FW apartment rents are too high? You ain't seen nothing yet | Real Estate | Dallas News

Friday, July 7, 2017

Austin Economic Indicators July 6, 2017 via Dallas Fed

Growth in the Austin economy remained soft in May. Following the release of updated retail sales and wage data, growth in the Austin Business-Cycle Index year to date was revised down and remained weak relative to the past several years. Jobs declined slightly and the unemployment rate remained near its 15-year low.

Monday, July 3, 2017

REIS: Effective Rent Rises 1.1% in Q2 2017 via Multifamily Executive Magazine

In all but two of the 79 primary apartment markets covered in Reis’s Apartment Sector Preliminary Trends Release, average effective rents either increased or remained flat in the second quarter of 2017, demonstrating a marked improvement over the previous quarter. Nationwide, the average effective rent grew by 1.1% between Q1 and Q2 2017, and by 3.0% year over year.

Read more...REIS: Effective Rent Rises 1.1% in Q2 2017 | Multifamily Executive Magazine

Houston Economic Indicators June 2017 via Dallas Fed

May data were mixed for the Houston metro area. The business-cycle index continued to signal a moderate expansion. Labor market data indicated job growth, the energy sector improved significantly and low fuel prices helped consumers. However, retail sales and wage and salary data suggest that Houston exited 2016 less robustly than initially believed. Overall, the outlook for Houston is guardedly optimistic.

Renter Demand at Near-Record Levels via

Apartment rent growth may have slowed compared to its pace earlier in the cycle, but renter demand is very nearly off the charts. RealPage Inc. on Thursday reported demand for 175,645 apartments across the US in the second quarter, a one-third increase year over year.

Meanwhile, occupancy stood at 95.0% at midyear, essentially full, according to RealPage’s Axiometrics division. Mid-2017 occupancy topped Q1’s 94.5% but slightly lagged the year-ago level of 95.3%, according to Axiometrics data.

Read more...Renter Demand at Near-Record Levels |