Gains for Multifamily Construction Starts via Multi-Housing News Online

According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, starts of buildings with five or more units increased by 2.3 percent at a seasonally adjusted annual rate in April 2019 to 359,000 after a 0.3 percent drop in March. On a year-over-year basis, the April starts of buildings with five or more units were 1.4 percent above its April 2018 level.

Read more...Gains for Multifamily Construction Starts via Multi-Housing News Online

Austin Economic Indicators June 2019 via Dallas Fed

The Austin economy grew at a solid pace in April. The Austin Business-Cycle Index expanded and remained above its long-term trend. Job growth was brisk, with increases in the construction and mining and financial activities sectors but a sharp decline in retail jobs. Hourly wages continued to tick down in April, while housing affordability improved. Population growth in 2018 slowed from 2017.

Read more...Austin Economic Indicators June 2019 via Dallas Fed

DFW Economic Indicators June 2019 via Dallas Fed

Dallas–Fort Worth economic growth continued in May. Payroll employment rose, and unemployment remained at a 20-year low. The Dallas and Fort Worth business-cycle indexes expanded further. Home prices rose in the first quarter, and housing affordability improved, likely due to a drop in mortgage rates.

Read more...Dallas-Fort Worth Economic Indicators June 2019 - Dallasfed.org

Texas, U.S. construction is headed for a slowdown via Dallas Morning News

Construction activity in Texas and the U.S. is headed into a decline.

But don't look for the kind of huge retreat we've seen at the end of previous cycles.

The building of projects including apartments and offices has already begun to slow in North Texas, said Robert Murray, chief economist at Dodge Data and Analytics.

Read more...Texas, U.S. construction is headed for a slowdown via Dallas Morning News

Almost 40 Percent of Dallas Apartment Hunters Hail From Elsewhere via Candys Dirt

According to a new report published by Apartment List, Dallas comes in 11th in the ranking of metropolitan areas that are attracting the most renters from elsewhere. The ranking was determined based on the share of inbound searches coming from outside the metro — 39.4 percent of those looking for a place to live in Dallas aren’t Dallas residents.

Read more...Almost 40 Percent of Dallas Apartment Hunters Hail From Elsewhere via CandysDirt.com

The Continuing Case for Apartment Rentals via NREI

Apartments have been the darling of real estate capital markets for the past seven-eight years. This deep into an outstanding run, some investors have begun to worry if the clock is approaching midnight for Cinderella. However, an examination of underlying demand dynamics suggests that the U.S. will require an extraordinary number of rental units over the next five to 10 years, even beyond. If supply remains in check, the following long-term lifestyle and demographic trends should allow apartments to remain the belle of the ball for some time to come:

Read more...The Continuing Case for Apartment Rentals via NREI

Texas jobless rate falls to all-time low since records started in 1976 via Dallas Morning News

Texas' jobless rate reached an all-time low last month at 3.5%, according to data released Friday by the Texas Workforce Commission.

May's unemployment rate is the lowest since the federal government started tracking state data in 1976. It's down from April, which matched a previous record at 3.7%.

Nationally, the jobless rate in May was 3.6%.

Read more...Texas jobless rate falls to all-time low since records started in 1976 via Dallas Morning News

National Multifamily Report – May 2019 via Multi-Housing News Online

Multifamily rent growth in 2019 continues to be positive, increasing by $5 to $1,442 in May, a $14 bump over the last three months. Although the numbers continue in an upwards projection, year-over-year rent growth has performed at a decreased level. Compared to 2018, rents fell 50 basis points from April to 2.5 percent, according to a Yardi Matrix survey of 127 markets.

Read more...National Multifamily Report – May 2019 via Multi-Housing News Online

DFW's May apartment leasing was the strongest in more than a decade via Dallas Morning News

An unexpected surge in May apartment leasing in North Texas has caused vacancies to fall.

Net apartment leasing last month totaled 7,960 units — one of the strongest monthly totals in decades.

"That demand total drastically surpasses the performance seen in any other single month since this economic cycle began in early 2010," said Greg Willett, chief economist with Richardson-based RealPage. "The previous high was about 4,200 units in March 2014."

Read more...D-FW's May apartment leasing was the strongest in more than a decade via Dallas Morning News

ALN Monthly Market Stats June 2019 via ALN Apartment Data

ALN Data just released their May 2019 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.

Read more...ALN Monthly Market Stats June 2019 via ALN Apartment Data

Eleventh District Beige Book June 2019 via Dallas Fed

Moderate expansion continued in the Eleventh District economy, although there were scattered signs of deceleration later in the reporting period. Growth in the manufacturing, nonfinancial services, and retail sectors was solid in April but softened in early May. Home sales rose and loan volumes continued to increase, led by growth in residential real estate lending. Ample soil moisture boosted prospects in the agricultural sector, though prices for several commodity declined. Drilling activity weakened. Employment rose moderately, despite being constrained by a tight labor market. Wage growth remained elevated, while price growth was mixed. Outlooks were generally less positive than during the prior reporting period, with tariff and trade negotiations driving up uncertainty.

Read more...Eleventh District Beige Book June 2019 via Dallas Fed