Who pays the highest and lowest rents in the Dallas area? via Dallas News

Dallas-Fort Worth has one of the hottest economies in the country.

And it's bringing thousands of new residents to the area every year.

While many newcomers opt for apartments, there's also a huge demand for rental houses.

Read more...Who pays the highest and lowest rents in the Dallas area? | Real Estate | Dallas News

Job Growth Accelerates in December Data via MPF Research

Nationwide hiring picked up in December, with U.S. employers adding around 2.3 million jobs in 2017. That figure grew the country’s job base 1.6%, according to preliminary data from the Bureau of Labor Statistics (BLS).

Among U.S. metropolitan areas, nine of the top 10 metros from November returned to the list for December, but several changed places. New York, Dallas, Boston and Atlanta retained the top four spots, although Dallas and Atlanta experienced significant declines in total jobs gained compared to last year – down 41,600 and 34,700 positions, respectively. Those four markets, in addition to #5 Los Angeles, each made Amazon’s short list for HQ2. In an analysis of the remaining contenders, RealPage recently ranked Dallas and Atlanta among the three apartment markets best positioned for Amazon.

Read more...Job Growth Accelerates in December Data - MPF Research

Texas’ Fastest-Growing Apartment Market Cuts Rents in 2017 via MPF Research

Among the 50 largest U.S. apartment markets, only one suffered rent cuts in 2017 – Austin. Apartment operators in the Texas capital metro lowered rental rates 0.7% in the past year.

Pricing power has been pretty strong in Austin throughout much of the current cycle, despite heavy construction activity. In fact, 2017 marks the metro’s first annual rent decline in more than seven years. While it’s typical for Austin to lose pricing momentum toward the end of the year, the 4th quarter dive in 2017 was sharper than usual, with rents coming down 2.4%.

Read more...Texas’ Fastest-Growing Apartment Market Cuts Rents in 2017 - MPF Research

Rising mortgage rates hit new home sales hard, a bad sign for builders via CNBC

Sales of newly built homes are falling, and the culprit is clear. Homebuyers increasingly can't afford what they want. Higher mortgage rates, combined with the loss of homeowner tax breaks in some of the nation's most expensive markets, are taking away buying power.

Sales fell in December, when the new tax law was signed and then again in January, when mortgage rates moved higher. Sales are now at their lowest level since August of last year.

Read more...Rising mortgage rates hit new home sales hard, a bad sign for builders

Cap Rates’ Likely Direction is Up via GlobeSt.com

The general direction for cap rates this year will be up, CBRE says in its latest North America Cap Rate Survey. “The recent spike in inflation and anticipated higher interest rates this year will add upward pressure on cap rates, offsetting the downward forces of expected strong institutional and global capital flows,” says Spencer Levy, senior economic advisor and head of Americas research at CBRE.

This outlook follows a six-month period in which cap rates fell slightly overall, although they increased in the retail sector in last year’s second half, mainly on account of power centers. ”US cap rates were largely flat outside of the retail sector in H2 2017 though a shift from sale to refinance activity contributed to lower transaction volumes,” Levy says.

Read more...Cap Rates’ Likely Direction is Up | GlobeSt.com

ALN Monthly Market Stats February 2018 via ALN Apartment Data

ALN Data just released their January 2018 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 February 2018 via ALN Apartment Data

Apartment Completions Reach 30-Year High in 2017 via Multifamily Executive Magazine

Apartment completions reached a 30-year high in 2017 and beat the 2016 level by 30%, according to RealPage.

Last year, 364,713 units were completed in the 150 largest U.S. metros, more than doubling the long-term average and growing the U.S. apartment stock 2.1%.

The peak in completion volume was driven by 15 metros where construction has been particularly active in urban core areas, RealPage notes. Those 15 metros contributed roughly half of the nation’s new units in the past year.

Read more...Apartment Completions Reach 30-Year High in 2017 | Multifamily Executive Magazine

Major apartment developer: 'There is an acute crisis headed our way' via CNBC

Scan the downtowns of the nation's largest cities, and you are likely to see a staggering array of cranes.

Most of them are helping to build luxury apartment buildings. In fact, multifamily construction is now at a 40-year high; the trouble is, developers are putting up the wrong kinds of buildings. The luxury market is largely overbuilt, while there is a shortage of affordable rental housing, and developers are hamstrung by the now record-high cost of construction.

Read more...Major apartment developer: 'There is an acute crisis headed our way'

Dallas Metro Report: February 2018 via Zumper

The Zumper Dallas Metro Report analyzed active listings in January across 14 metro cities to show the most and least expensive cities and cities with the fastest growing rents. The Texas state median rent was $913 last month.

Read more...Dallas Metro Report: February 2018

Why you're meeting more Chicago, Los Angeles and New York transplants in Texas via Dallas News

More than a half-million new residents move to Texas annually, according to the latest estimates by the Texas Association of Realtors.

And Dallas-Fort Worth captured the biggest metro share of the newcomers.

Texas had the second highest total of moves in the country, second only to Florida in 2016, according to the latest census data analysis by the Texas Association of Realtors.

Read more...Why you're meeting more Chicago, Los Angeles and New York transplants in Texas  | Real Estate | Dallas News

Thriving Texas Economy Expands Broadly via Dallas Fed

he Texas economy continues its broad expansion. Texas employment growth accelerated in the fourth quarter and was strong across most metros and industries. The Dallas Fed’s Texas Business Outlook Surveys (TBOS) showed notable strength in revenue and production in January, with the three-month moving averages of the headline indexes at levels well above their postrecession averages. However, labor markets continue to tighten, and price pressures are mounting.

Read more...Thriving Texas Economy Expands Broadly - Dallasfed.org

Houston Economic Indicators 1/30/18 via Dallas Fed

Economic data were mostly positive for Houston in December. Employment grew, and business-cycle and leading indexes were indicative of healthy economic output and future growth. Construction and real estate metrics were mixed but pointed to a tighter housing market and increased construction ahead. Overall, the outlook for Houston remains positive.

Read more...Houston Economic Indicators - Dallasfed.org

Where Are Multifamily Developers Going Next? via National Real Estate Investor

Multifamily developers are finding it more challenging to find new project sites in the current market.

“Because the cycle has run so long, finding individual development deals that make financial sense gets harder and harder, even with favorable overall market influences,” says Greg Willett, chief economist for RealPage Inc., a provider of property management software and services.

Read more...Where Are Multifamily Developers Going Next? | National Real Estate Investor

Austin Economic Indicators 2/1/18 via Dallas Fed

Austin economic growth remained robust in December. The Austin Business-Cycle Index accelerated as job growth remained above trend and the unemployment rate held at a very low level. Most indicators suggest that the regional real estate market picked up toward the end of last year, although multifamily activity appeared to cool after surging in the second quarter.

Read more...Austin Economic Indicators - Dallasfed.org

Kingsley: National Renter Satisfaction Steady Over Past 3 Years via Multifamily Executive Magazine

Over the past three years, national renter satisfaction has remained steady, with the rate fluctuating between 76.6% and 76.8%. However, for the first time since the end of 2014, renter satisfaction has surpassed that line, climbing to a high of 76.9% in Q4 2017. During the quarter, almost all of the top U.S. markets saw increases in renter satisfaction from 2016. The most significant increases over the past year occurred in Atlanta, Denver, and New York, with upticks of 1.6%, 1.8%, and 3.2%, respectively. Only one market, Dallas, experienced a significant decrease in renter satisfaction, with a 1.2% downturn compared with 2016.

Read more...Kingsley: National Renter Satisfaction Steady Over Past 3 Years | Multifamily Executive Magazine | Property Management, Economic Development, Economic Conditions, Economics, Customer Satisfaction, renter satisfaction, Renters, Kingsley Associates

IRR Report: Cautious Optimism for Moderate, Steady Growth in 2018 via Commercial Property Executive

One month into the new year, Integra Realty Resources, the largest independent commercial real estate valuation services firm in North America, has issued its CRE forecast, Viewpoint 2018, with cautious optimism for moderate and steady growth as the main theme.

The firm’s 25th edition of the annual report provides a detailed look at the local and national commercial real estate market across five key property types—office, industrial, retail, hospitality and multifamily. It also examines economic trends and how they are affecting interest rates, capital markets and housing.

Read more...IRR Report: Cautious Optimism for Moderate, Steady Growth in 2018