Buyers and Sellers Are Not Blinking On Pricing via GlobeSt

Deal volume for the industrial and multifamily sectors may be performing well as the pandemic begins to resolve, but investment activity remains well below pre-COVID levels for all other asset classes.

A new analysis from Real Capital Analytics reveals that potential buyers are still wary about the pace of the economic recovery, and owners are “generally hesitant to sell at prices that would provide enough of a discount to address the buyer caution.”

Read more...Buyers and Sellers Are Not Blinking On Pricing via GlobeSt

Lumber Prices Are Through the Roof, Punishing Apartment Builders via WSJ

The soaring lumber costs that have slowed construction of single-family homes are starting to pinch apartment-building developers too.

While many multifamily buildings are made of steel, glass and concrete, wood is also a major component, especially in low- and mid-rise buildings. Wood is also used extensively for floors, cabinets and other fixtures.

Read more...Lumber Prices Are Through the Roof, Punishing Apartment Builders via WSJ

Texas Employment Forecast​ May 2021 via Dallas Fed

Texas employment growth decelerated to a 1.3 percent annualized rate in April after increasing by a revised 12.3 percent in March. The Texas Leading Index increased at a record pace this month, suggesting an acceleration in growth over the second half of the year.

Read more...Texas Employment Forecast​ May 2021 via Dallas Fed

No surprise: Renting is a lot cheaper than owning in major Texas metros via Dallas News

With home cost increasing in Texas’ major metros, renting is increasingly cheaper than ownership —even with low mortgage rates.

Renting is cheaper than buying in most major U.S. markets, a new study by mortgage firm LendingTree found.

In the Dallas area, the median cost of renting is $619 a month less than paying for a home with a mortgage, according to the researchers.

Read more...No surprise: Renting is a lot cheaper than owning in major Texas metros via Dallas Morning News

ALN Monthly Market Stats May 2021 via ALN Apartment Data

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

Multifamily Markets Rebounded in First Quarter While Office Continued Slide via Nareit

Multifamily markets rebounded in the first quarter with the second-highest quarterly demand growth on record, according to data recently released by CoStar, while the deterioration in office markets continued. Retail markets have stabilized somewhat, with small positive net absorption for the second quarter in a row after significant negative net absorption in the second and third quarters of 2020. Industrial markets enjoyed robust demand, with net absorption of 89 million square feet, the highest demand growth in three years.

Read more...Multifamily Markets Rebounded in First Quarter While Office Continued Slide via Nareit

Despite moratoriums, Dallas renters weren’t actually protected from eviction during pandemic via Dallas News

Do you know what to do if you find an eviction notice posted on your apartment door?

Many renters don’t – and a patchwork of quickly conceived eviction protections and confusing legal interpretations at all levels of government failed a number of Dallas County renters they were supposed to protect, a new study concludes.

Read more...Despite moratoriums, Dallas renters weren’t actually protected from eviction during pandemic via Dallas Morning News

20 Top Markets for Apartment Construction Completions via WMRE

The multifamily industry had a more challenging than usual year, dealing with both the COVID-19 pandemic and skyrocketing materials prices, but new units continued to be added in markets throughout the country. According to a recent report from real estate services firm CBRE, the nation’s 24 top markets for construction saw a total of 282,500 apartment units completed from the second quarter of 2020 through the end of the first quarter of 2021, an increase of 1.8 percent compared to existing inventory.

Read more...20 Top Markets for Apartment Construction Completions via WMRE

Apartment Owners Are Out $8B From Missed Rent Payments This Quarter via GlobeSt

The money lost by property owners from missed rent payments is up, but the number of delinquent tenants is declining, the Mortgage Bankers Association Research Institute for Housing America reported recently.

Rental property owners lost as much as $7.85 billion in first-quarter revenue from missed rent payments up from over $7.41 billion in the fourth quarter.

Read more...Apartment Owners Are Out $8B From Missed Rent Payments This Quarter via GlobeSt

Apartment Rents Rose Last Month at Fastest Pace Seen in a Decade via GlobeSt

US apartment rent growth is back in a big way, now that the country’s reopening local economies are fueling household creation and stimulating robust demand for all types of housing.

Effective asking rents for US apartments climbed 1.3% in April, rising at the fastest pace seen during a single month for the past decade or so and likely at the fastest pace ever. (RealPage’s long-term performance history for rents measured change by quarter, rather than by individual month.)

Read more...Apartment Rents Rose Last Month at Fastest Pace Seen in a Decade via GlobeSt

North Texas led the country in population gains during the pandemic via Dallas News

If you’re searching for the reason North Texas has a severe housing shortage, look no further than just-released census numbers.

The Dallas-Fort Worth area led the country in 2020 population growth — which includes births and in-migration. The area added almost 120,000 residents, according to the latest data from the U.S. Census. During the last five years, D-FW’s population has grown by more than 650,000.

Read more...North Texas led the country in population gains during the pandemic via Dallas Morning News

Texas Economic Activity Springs Ahead as Growth Strengthens via Dallas Fed

Following a winter-storm-related contraction in February, Texas employment rebounded in March, expanding an annualized 11.3 percent, compared with 8 percent for the U.S.

The growth in March was the strongest since June 2020 and contributed to an overall employment gain of 4.7 percent in the first quarter.

As a result of the strong performance and other economic tailwinds, the 2021 Texas employment forecast improved to 6.6 percent growth from 6.0 percent.

Read more...Texas Economic Activity Springs Ahead as Growth Strengthens via Dallas Fed

‘Stunning momentum’: D-FW apartment rents are heading higher via Dallas Morning News

Dallas-area apartment rents are rebounding after setbacks during the pandemic. Average North Texas apartment rent increases stalled in 2020 when the COVID-19 pandemic hit. Landlords increased the number of freebies used to attract renters.

But with the economy opening up and migration to the area continuing, local rents are again headed higher.

Read more...‘Stunning momentum’: D-FW apartment rents are heading higher via Dallas Morning News

Federal judge overturns national eviction ban via CNBC

Federal Judge Dabney Friedrich struck down on Wednesday the national eviction moratorium, potentially leaving millions of Americans at risk of losing their homes.

The Centers for Disease Control and Prevention has banned most evictions across the country since September. President Joe Biden extended that protection to renters until July.

Read more... Federal judge overturns national eviction ban via CNBC

Apartments Have Stabilized Earlier Than Expected via GlobeSt

In Q1 2021, the US multifamily market stabilized a quarter earlier than expected, according to a new report from CBRE.

While vacancy rose by 20 basis points to 4.7% in the quarter, the average rent rose 0.4%. That was the first quarterly rent increase since the pandemic began. Still, the average rent was down 4.2%, and vacancy was up 50 basis points compared to a year ago.

Read more...Apartments Have Stabilized Earlier Than Expected via GlobeSt