Biden Administration to Redirect Rental-Assistance Funds to Areas With Greater Demand via WSJ

The Treasury Department is redirecting rental-assistance money from some states and localities that haven’t used the bulk of their funds to others facing backlogs of aid requests, according to administration officials.

The officials said they couldn’t specify which jurisdictions would lose and gain funds. But they said those with large amounts of unused funds include rural states—like Montana and North Dakota—while local officials in several more populous states—like New York and Texas—are expected to exhaust their rental-assistance money over the coming week and months.

Read more...Biden Administration to Redirect Rental-Assistance Funds to Areas With Greater Demand via WSJ

Everyone’s Moving to Texas. Here’s Why. via The New York Times

The traumas of the past few years have rearranged all of our lives. Many Americans have new needs, new desires, new possibilities and new priorities. They’re looking for bigger homes, second homes or any home at all. They’re searching for work — or trying to escape work. Some fear encroaching heat, fire or flood. Others are repulsed by bitter local politics. Many simply hear the distant siren of a better life elsewhere.

We’re here to help. First, we gathered data for thousands of towns and cities on more than 30 metrics, such as school quality, crime rates and affordability. Then we used that data to make a quiz: Select the criteria you find important, and we’ll show you places that might work for you.

Read more...Everyone’s Moving to Texas. Here’s Why. via The New York Times

Apartment Rent Concession Utilization at All-Time Low via RealPage

More apartment operators are ditching rent concessions offers as vacancies across the country have dropped to historic lows.

The share of apartment leases containing rent discounts is at the lowest ever in RealPage’s database that goes back to the early 1990s. This comes as occupancy remains at all-time highs and available apartment units are scarce. However, there are pockets of the market bucking that trend, and they tend to be pricey geographies where discounts are deep. The result is a larger-than-average rent discount for the nation overall.

Read more...Apartment Rent Concession Utilization at All-Time Low via RealPage

U.S. Apartment Monthly Rent Growth Slows in October via RealPage

Following the normal seasonal pattern, U.S. apartment leasing activity has slowed from the frenzied pace recorded in the spring and summer months. In turn, rent growth levels are easing.

Effective asking rents for move-in leases climbed 0.6% during October, the slowest pace of growth recorded since February. At the peak seen in June and July, rents were rising more than 2% per month.

Read more...U.S. Apartment Monthly Rent Growth Slows in October via RealPage

It’s Been A Booming Year For Investment Sales via GlobeSt

US sales volume approached $180 billion in the third quarter, with capital entering the market on track to hit an all-time high this year—and Q4 is primed to be another one for the history books.

A “record amount” of capital is on the sidelines waiting to be deployed in North America, according to new research from Colliers, and “investors are eager to tap into these funds.” Pricing also remains strong and on the uptick across all asset classes, led by multifamily (which saw a volume during the quarter that was in line with industrial and office combined).

Read more...It’s Been A Booming Year For Investment Sales via GlobeSt

Price Growth For CRE Assets Grew At Historic Pace in October via GlobeSt

Price growth for commercial real estate assets in the US grew at its fastest annual rate ever in October, as investors clamored for trophy properties.

The Real Capital Analytics CPPI National All-Property Index rose 15.9% from a year ago and 1.7% from September, according to the latest RCA data. In the year through October 31, investors poured $523.8 billion into commercial property assets, a 70% increase.

Read more...Price Growth For CRE Assets Grew At Historic Pace in October via GlobeSt

Texas employers add another 56,000 jobs in October amid steady pandemic recovery via Dallas Morning News

Texas continues to inch toward a full economic recovery, adding 56,600 jobs in October for employment gains in 17 of the last 18 months.

The jobs boost also knocked 0.2 percentage points off the state’s seasonally adjusted unemployment rate, according to the Texas Workforce Commission. The jobless rate fell to 5.4% in October, compared with 7.3% in the same month a year ago.

Read more...Texas employers add another 56,000 jobs in October amid steady pandemic recovery via Dallas Morning News

U.S. Apartment-Building Sales Soar to Record, With Sun Belt Driving Deals​ via Bloomberg

U.S. apartment building sales have jumped to record levels, outpacing all other forms of commercial real estate.

Deals totaled $241.9 billion in the 12 months through September, up 27% from the same period in 2019, according to a RealPage Inc. analysis of data from Real Capital Analytics Inc. going back to 2001. Apartments accounted for 44% of all transactions, the most for any commercial-property type.

Read more...U.S. Apartment-Building Sales Soar to Record, With Sun Belt Driving Deals​ via Bloomberg

Market Spotlight: Dallas – Fort Worth via ALN Apartment Data

In what has been a remarkable bounce back year for the multifamily industry nationally, the Dallas – Fort Worth market has been the leader in both new supply and apartment demand. In this installment of the Market Spotlight series, we take a closer look at Dallas – Fort Worth (DFW) from January through September of 2021.

As a reminder, all numbers will refer to conventional properties of at least 50 units.

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

ALN Monthly Market Stats November 2021 via ALN Apartment Data

ALN Data just released their October 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 November 2021 via ALN Apartment Data

Dallas-Fort Worth Economic Indicators November 2021 via Dallas Fed

Dallas–Fort Worth economic expansion accelerated in September. Payroll employment grew and finally surpassed its prepandemic high 19 months after COVID-19 battered the local labor market. The Dallas and Fort Worth business-cycle indexes—broad measures of local economic activity—increased strongly. Consumer spending remained robust in early October and was well above prepandemic levels. Demand for industrial space was elevated, and office leasing activity remained sluggish.

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

Houston Economic Indicators November 2021 via Dallas Fed

Recent data for the Houston region have been positive for growth. The Delta wave of the coronavirus has retreated as the number of people being vaccinated progresses. Over two-thirds of pandemic job losses have been recovered, and the local unemployment rate fell to 5.8 percent as online job postings climbed. The oil and gas sector showed signs of picking up steam even before recent surges in commodity prices pushed retail fuel prices up. Altogether, after lagging the nation for the better part of the pandemic, the outlook for Houston is much improved.

Read more... Houston Economic Indicators November 2021 via Dallas Fed

Austin Economic Indicators November 2021 via Dallas Fed

The Austin economy continued to expand in September. The Austin Business-Cycle Index increased, led by strong payroll gains. Recent COVID-19 hospitalizations declined further from the latest peak in August. Regional consumer spending remained healthy, and existing-home sales increased after three months of declines.

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

Why Apartment Cap Rates Are Projected to Remain Low via GlobeSt

The multifamily sector entered the pandemic on solid footing, and despite challenges brought on by the pandemic, it has the potential to continue to outperform in the years ahead, according to Investcorp.

Despite treasury yield increases, apartment cap rates are projected to stay low in the next couple of years, supporting an increase in capital values.

Read more...Why Apartment Cap Rates Are Projected to Remain Low via GlobeSt

DFW apartment rents up nearly 20% for year, some areas up 33% via Dallas Business Journal

The Dallas-Fort Worth apartment market continues to sizzle, with an annualized rent growth rate of 19.6% — the second strongest of the Texas markets, according to a new report.

Landlords aren't seeing a seasonal slowdown and most expect some degree of growth to continue, according to the November Market Line report from ApartmentData.com.

Read more...Dallas-Fort Worth apartment rents up nearly 20% for year, some areas up 33% via Dallas Business Journal

Apartment Rent Growth Cools, Suggesting Slowdown Is Near via GlobeSt

Apartment rent growth grew at its slowest rate since February, though rents continue to buck seasonal trends.

Apartment List’s national rent index ticked up by 0.8% from September to October, the least growth since the beginning of this year. And 22 of the nation’s 100 largest cities saw rents fall this month, after a nearly six-month stretch of uninterrupted growth.

Read more...Apartment Rent Growth Cools, Suggesting Slowdown Is Near via GlobeSt