Wednesday, April 14, 2021

Eleventh District Beige Book 4/14/21 via Dallas Fed

The Eleventh District economy accelerated to a solid pace during the reporting period. Growth in the manufacturing, retail, and nonfinancial services sectors picked up markedly, though activity stayed below normal levels. Home sales and single-family construction remained vibrant, and apartment demand increased. Overall loan volume rose, supported by continued strength in real estate lending. Energy activity increased. Employment rose and wages increased moderately. Supply chain disruptions led to longer lead times and intensified upward price pressures in the construction, manufacturing, and retail sectors. Most contacts reported being adversely affected by Winter Storm Uri in mid-February, and some noted damages to facilities, equipment, and inventories. Outlooks were more optimistic and less uncertain than in the last report, though there was some trepidation about the impact of supply shortages and/or tighter regulation on activity.

Read more...Eleventh District Beige Book 4/14/21 via Dallas Fed

Market Spotlight: Dallas – Fort Worth via ALN Apartment Data

With population growth in the neighborhood of 20% over the last decade, the Dallas – Fort Worth market has been one of the most active in the country in recent years both in terms of new multifamily supply as well as apartment demand. For the latest installment in the Market Spotlight series, let’s have a closer look.

Read more...Market Spotlight: Dallas – Fort Worth via ALN Apartment Data

ALN Monthly Market Stats April 2021 via ALN Apartment Data

ALN Data just released their March 2021 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 April 2021 via ALN Apartment Data

Tuesday, April 13, 2021

Crexi: Asking Prices on the Rise Again in March via Connect Media

The overall asking price per square foot for commercial properties climbed once again in March, following a February drop across the board, Crexi reported. The average asking price jumped 7.89%, with all asset classes showing growth except for multifamily.

Read more...Crexi: Asking Prices on the Rise Again in March via Connect Media

Thursday, April 8, 2021

Multifamily Rents Jump in March, Post Strong Quarter via GlobeSt

Average multifamily rents rose by $6 to $1,407 on a year-over-year (YOY) basis in March, according to Yardi Matrix.

With the 0.6% YOY and 0.8% quarter-over-quarter jump, multifamily rents had one of the strongest first quarters in a few years, according to Yardi. Additionally, rents posted a 0.4% month-over-month growth in March, rising 20 basis points from February.

Out of 134 markets surveyed, 114 had flat or positive YOY rent growth. Additionally, 19 of the top 30 metros had flat or positive YOY rent growth in March.

Read more...Multifamily Rents Jump in March, Post Strong Quarter via GlobeSt

Tuesday, April 6, 2021

Dallas-Fort Worth Economic Indicators March 2021 via Dallas Fed

Dallas–Fort Worth’s economic recovery stayed on track in January. Job growth continued for the ninth straight month and unemployment dipped. Movement in the business-cycle indexes was mixed. Housing market indicators reflected a vibrant market in February, with record-low inventories and rising prices. Home sales dipped last month largely due to activity coming to a standstill during Winter Storm Uri.

Read more...Dallas-Fort Worth Economic Indicators March 2021 via Dallas Fed

Austin Economic Indicators March 2021 via Dallas Fed

The Austin economy continued to expand in February, albeit at a slower pace. The Austin Business-Cycle Index grew at a moderate clip. While jobs were added at a healthy pace, the unemployment rate increased slightly. COVID-19 hospitalizations declined further since peaking in mid-January, and regional consumer spending has been strong. Existing-home sales weakened sharply in February, likely impacted by Winter Strom Uri.

Read more...Austin Economic Indicators March 2021 via Dallas Fed

Welcome to Texas: Thousands of folks from California, Illinois and New York moved to D-FW in 2020 via Dallas Morning News

During the pandemic, there’s been lots of chatter about people moving to North Texas from other states. But so far, there have been few hard numbers on the immigrant totals.

Now a new study from commercial real estate giant CBRE confirms the thousands of people heading to Dallas-Fort Worth last year and where they came from.

No surprise at the top: The largest number of new D-FW transplants comes from California.

Read more...Welcome to Texas: Thousands of folks from California, Illinois and New York moved to D-FW in 2020 via Dallas Morning News

Friday, April 2, 2021

D-FW apartment leasing picks up as construction declines via Dallas Morning News

Apartment leasing rose in the first three months of Dallas-Fort Worth as construction declined.

Net apartment leasing in the first quarter totaled 4,068 units — the strongest demand for the period in more than a decade.

Even with the economic declines that have come during the COVID-19 pandemic, North Texas still led the country in first-quarter net apartment leasing, according to a just-released report from RealPage.

Read more...D-FW apartment leasing picks up as construction declines via Dallas Morning News

Thursday, April 1, 2021

Does Multifamily Benefit from the $2T Federal Infrastructure Plan? via Multi-Housing News Online

A wide-ranging $2.3 trillion infrastructure plan released by President Joe Biden Wednesday that includes $213 billion to address affordable housing issues for low- and middle-income renters and buyers, upgrades the nation’s public housing stock and seeks to remove barriers to development received wide approval from multifamily executives who said housing has historically helped lead the country out of recession.

Read more...Does Multifamily Benefit from the $2T Federal Infrastructure Plan? via Multi-Housing News Online

Urban Apartments Eye a Long Road to Recovery via WMRE

As many Americans fled cities during the pandemic and generated a glut of empty apartments, landlords in Manhattan and other urban metros slashed rents and offered draw-dropping concessions, including covering moving costs, free internet, months of free rent and other sweeteners.

Now, with millions of vaccine shots going out daily and the promise of a post pandemic future drawing closer, things are beginning to change. As more lockdown measures are eased, prospective urban residents are being lured back by city life and lower rents.

Read more...Urban Apartments Eye a Long Road to Recovery via WMRE