Job, Population Growth Bolsters Demand in Houston via Multi-Housing News Online

Recovering after the oil crisis and Hurricane Harvey, Houston’s economy is once again in full swing. While causing more damage than any other natural disaster in U.S. history except for Hurricane Katrina, Harvey has also contributed to moderating the supply imbalance of the past couple of years. After a prolonged dry spell, Houston rent growth is once again outpacing the U.S. average, having reached 3.9 percent year-over-year through June.

Read more... Job, Population Growth Bolsters Demand in Houston

Austin Economic Indicators August 2018 via Dallas Fed

The Austin economy continued to expand at a solid pace in June. The Austin Business-Cycle Index grew near its long-term trend. Although labor markets remained constrained, the metro posted solid employment growth. Wages continued to edge up, manufacturing activity grew moderately, and the housing market remained strong.

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

DFW Economic Indicators August 2018 via Dallas Fed

Economic expansion in Dallas–Fort Worth (DFW) remained broad based and swift, with the July jobs report showing the metro area growing at a 3.0 percent annualized rate—well above its long-run average. Unemployment dipped in the month, and the Dallas and Fort Worth business-cycle indexes posted above-trend growth. Home price appreciation has moderated compared with last year. Net absorption of office space rebounded in the second quarter, and activity in the industrial market continued to be robust.

Read more...Dallas-Fort Worth Economic Indicators August 2018 - Dallasfed.org

Sustainability and Profitability: How to Make a Positive Impact via Multi-Housing News

When implemented both wisely and strategically, sustainable green practices have an enormous positive impact on the bottom line for a multifamily housing property.

While the elusive task of “achieving” sustainability in an existing property may seem daunting, there are small steps owners and managers can take to create a positive social impact while keeping costs low, resident retention high and the bottom line healthy.

Read more... Sustainability and Profitability: How to Make a Positive Impact

DFW is a Millennial Money Magnet via GlobeSt

In almost all areas, unemployment is extremely low, at 4.2%. And Millennials (those aged 25 to 34 years old) shaping the current workforce, are in high demand. According to the Bureau of Labor Statistics, unemployment for that demographic is even lower at 3.9%.

Furthermore, wages have begun to move up at this point in the cycle for many jobs. Based on a recent study by JLL, the average US household income is now $83,700, and Millennials, many who are beginning or in the early stages of their careers, are not far behind at $75,400.

Read more... DFW is a Millennial Money Magnet via GlobeSt

Dallas-Fort Worth Economic Indicators 8/21/18 via Dallas Fed

Economic expansion in Dallas–Fort Worth (DFW) remained broad based and swift, with the July jobs report showing the metro area growing at a 3.0 percent annualized rate—well above its long-run average. Unemployment dipped in the month, and the Dallas and Fort Worth business-cycle indexes posted above-trend growth. Home price appreciation has moderated compared with last year. Net absorption of office space rebounded in the second quarter, and activity in the industrial market continued to be robust.

Read more... Dallas-Fort Worth Economic Indicators

ALN Monthly Market Stats August 2018 via ALN Apartment Data

ALN Data just released their July 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 August 2018 via ALN Apartment Data

New York and DFW will have the most new apartments in 2018 via Dallas News

If you are looking for a new apartment, Dallas-Fort Worth is the right place.

More than 17,000 new apartments are set to open their doors in the DFW area this year. That's second only to New York City among the cities with the most new apartments on the way, according to a new report by Yardi Systems.

Read more... New York and D-FW will have the most new apartments in 2018 via Dallas News

59% of Dallas residents are renters, Zillow finds via Dallas News

Dallas is a city of renters.

And there are a lot more of them than a decade ago.

About 59 percent of Dallas residents are renting their apartment or home. That compares to a 36 percent nationwide renter rate in 2016, according to a just-released study by Zillow.

Read more... Six out of 10 Dallas residents are renters and not homeowners via Dallas News

Kingsley: Renter Satisfaction Continues to Rise in Q2, Renewal Intent Holds Steady via Multifamily Executive

National resident satisfaction continued to rise in the second quarter of 2018, with 77.3% of residents reporting they were satisfied overall with their renting experience. This increase continues the upward trend that began in the final quarter of 2017.

Read more... Kingsley: Renter Satisfaction Continues to Rise in Q2, Renewal Intent Holds Steady via Multifamily Executive

Renters Are On The Rise In Texas via GlobeSt

Families with minor children who traditionally buy homes by the time those children reach school-age are starting to fade. Fewer US families own homes due to soaring prices and a shortage of entry-level homes. In the decade between 2006 and 2016, the drop in the number of families with children who own homes has reached almost 3.6 million, while the same demographic living in rentals has increased by 1.9 million, according to a study by RentCafe.

Read more... Renters Are On The Rise In Texas via GlobeSt

Austin Economic Indicators 8-2-18 via Dallas Fed

The Austin economy continued to expand at a solid pace in June. The Austin Business-Cycle Index grew near its long-term trend. Although labor markets remained constrained, the metro posted solid employment growth. Wages continued to edge up, manufacturing activity grew moderately, and the housing market remained strong.

Read more... Austin Economic Indicators

Houston Economic Indicators 7-31-18 via Dallas Fed

The professional services sector continues to lead a broad-based acceleration in the Houston economy this year amid strong growth in the local labor force. Construction employment is surging as the existing-home market remains tight. Healthy growth in the Houston Leading Index and robust growth in the Houston Business-Cycle Index suggest a continued positive outlook.

Read more... Houston Economic Indicators

D-FW rent growth has slowed, but it's toughest for working families to find housing via Dallas News

Rents in Dallas-Fort Worth have climbed for yet another month, albeit at a diminished pace, following a national trend that's driven renters to pay historic amounts for their units.

The average monthly rent for all units in the D-FW area has climbed to $1,177 as of July, up by 0.4 percent from a month ago and by 3.4 percent since this time last year, according to research from rental listings site RENTCafe, which used data from multifamily real estate analytics firm Yardi Matrix to track rents for different apartment types in metro areas nationwide.

Read more... D-FW rent growth has slowed, but it's toughest for working families to find housing

Housing demand sees biggest drop in more than 2 years via CNBC

The long list of housing headwinds is finally taking its toll on potential buyers. Housing demand fell 9.6 percent in June, compared with June 2017, according to a monthly index from Redfin. That is the largest decline since April 2016.

Red-hot home prices, rising mortgage interest rates, very few listings at the entry level and a high rate of student loan debt have weighed on buyers for a while, but a strong economy and growing employment had mitigated those factors. Now, however, a market stalemate is developing as rates and prices continue to rise, further weakening affordability.

Read more... Housing demand sees biggest drop in more than 2 years via CNBC