On-Time Collection Rates Dropping for Mom and Pop Multifamily Landlords via GlobeSt

A new report is offering real-time glimpses into how well non-institutional landlords are collecting monthly rental payments as the pandemic wears on⁠—and the data reveals that on-time collection rates among independent landlords have now dropped for four consecutive months. On-time payments are at their lowest rate since February 2021, and “some deterioration could still lay ahead.”

Read more...On-Time Collection Rates Dropping for Mom and Pop Multifamily Landlords via GlobeSt

1,000 New People Arrive in Texas Every Day. Half Are Newborns. via The New York Times

Every three minutes, a child is born somewhere in Texas.

At one hospital in North Texas, 107 babies were delivered over 96 hours this summer, shattering local records. At a hospital in San Antonio, more than 1,200 babies have been born this year, up nearly 30 percent since 2018.

Read more...1,000 New People Arrive in Texas Every Day. Half Are Newborns. via The New York Times

Texas Employment Forecast December 2021 via Dallas Fed

Texas employment grew at a strong 7.4 percent annualized rate in November after increasing a revised 4.5 percent (previously 3.8 percent) in October. The Texas Leading Index increased for the fourth consecutive month—the 17th rise in the last 19 months. The recent gains in the index suggest continued strong job growth over the next three to six months.

Read more... Texas Employment Forecast December 2021 via Dallas Fed

Reminder: All rental property owners must include flood disclosure info effective January 1 via Texas Apartment Association

Under a new Texas law, all new residential leases entered into or renewed on or after January 1, 2022 must contain certain flood disclosure information. The disclosure must be in a document that is separate from the lease.

Read more...Reminder: All rental property owners must include flood disclosure info effective January 1 via Texas Apartment Association

Report: In some parts of D-FW, rent has soared more than 30% in one year via WFAA

Does it feel like you started on the ground floor apartment, but the rent elevator (the one that only goes up) has made you feel like you are now in the penthouse? You’re not alone.

According to apartmentlist.com, Dallas-Fort Worth rents have soared 15.3% in the last year. That is substantial, but it is still below the national average of 17.7%.

Read more...Report: In some parts of D-FW, rent has soared more than 30% in one year via WFAA

Market Spotlight: Houston via ALN Apartment Data

We checked in on the Houston market back in May, and the multifamily rebound that was in full force then has not slowed much in the intervening time. At the national level, apartment demand continues to set records and rent growth is well into double digits. With this backdrop in mind, let’s revisit the Houston multifamily market.

As always, numbers will refer to conventional properties of at least 50 units.

Read more...Market Spotlight: Houston via ALN Apartment Data

ALN Monthly Market Stats December 2021 via ALN Apartment Data

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

Pandemic payoff? D-FW leads major metros in pay gains via Dallas Morning News

The Dallas region isn’t only a leader in job growth and migration. It’s also surpassing rival metros in pay gains — and by a big margin.

In the 12 months ended in October, average weekly earnings rose 8.3% in Dallas-Fort Worth, easily topping national and statewide numbers, and ranking No. 1 among the 10 most populous metros.

Read more...Pandemic payoff? D-FW leads major metros in pay gains via Dallas Morning News

Advice to would-be Dallas homebuyers: Keep renting, economists say via Dallas Morning News

Economists have some advice for potential Dallas-Fort Worth home purchasers — don’t buy it.

With North Texas home prices at record levels, economists at two Florida Universities who track housing costs say you are better off renting here than ponying up for a pricey home.

Read more...Advice to would-be Dallas homebuyers: Keep renting, economists say via Dallas Morning News

Large corporate interest in relocating, expanding in DFW jumps fourfold amid pandemic via Dallas Business Journal

As the year draws to a close, more than 100 substantial prospects are weighing a corporate headquarters relocation or major expansion to North Texas, and a prestigious international conference is in the sights of business leaders and government officials tasked with luring prospects and raising the profile of the region.

The COVID pandemic has accelerated, rather than dampened, interest in Dallas-Fort Worth as a site for headquarters for businesses and other organizations seeking to move or grow, Dale Petroskey, president and of the Dallas Regional Chamber, said Friday at a luncheon for the economic development and business recruitment group.

Read more...Large corporate interest in relocating, expanding in DFW jumps fourfold amid pandemic via Dallas Business Journal

Houston Apartment Fundamentals Break Records in Another Sudden Turnaround via WMRE

Investors are likely to spend more money to buy apartment properties in Houston than ever before in 2021.

That’s a quick reversal for a city already known for sudden changes. Investors poured money into Houston apartments in the years just before the coronavirus pandemic. But developers struggled to rent thousands of new apartments during the crisis. Investors fled the market.

Read more...Houston Apartment Fundamentals Break Records in Another Sudden Turnaround via WMRE

Apartment rent and occupancy hit record highs, even as market enters its traditionally slow season via CNBC

Apartment rent growth and occupancy set new records in November, yet another sign that the nation’s housing market isn’t following seasonal patterns this year. Rent growth and occupancy usually cool heading into winter.

Apartment occupancy hit a new high of 97.5% in November, according to RealPage, a real estate technology platform. The rate is up roughly 250 basis points from the long-term norm of about 95% going back over the past three decades.

Read more... Apartment rent and occupancy hit record highs, even as market enters its traditionally slow season via CNBC

Dallas-Fort Worth Economic Indicators December 2021 via Dallas Fed

Economic growth in the Dallas–Fort Worth metroplex remained steady in October. Both payroll employment and the Dallas and Fort Worth business-cycle indexes—broad measures of local economic activity—increased strongly. New jobless claims continued their downward trend. Home sales and construction have cooled from their peaks but remained elevated, pushing up home prices to new highs.

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

Austin Economic Indicators December 2021 via Dallas Fed

The Austin economy continued to expand in October. The Austin Business-Cycle Index increased, led by strong payroll gains. The unemployment rate moved sideways, while the labor force grew strongly. Regional consumer spending growth remained healthy, and recent COVID-19 hospitalizations steadied after two months of decline. Existing-home sales contracted in October.

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

Apartment Rents Are Falling In More Than Half of Major Metros via GlobeSt

Apartment rents fell in more than half of the nation’s major markets this month, suggesting a widespread cooldown in a market that’s been buoyed by pandemic-driven shifts in consumer preferences.

Apartment List’s national index increased by just 0.1% in November, the lowest month-over-month growth rate all year. The uptick does come at a time when seasonality normally causes rents to dip, however, and the national median rent has increased by 17.8% since the beginning of the year, a staggering contrast to pre-pandemic averages, which sat around 2.6%.

Read more...Apartment Rents Are Falling In More Than Half of Major Metros via GlobeSt

Eleventh District Beige Book 12/1/21 via Dallas Fed

Robust expansion continued in the Eleventh District economy, with gains generally broad based across sectors. Growth in the manufacturing and nonfinancial services sectors stayed strong, though retail sales were mixed. Home sales and single-family construction remained elevated; however, activity was being constrained by labor, lot, and materials shortages. Apartment demand rose, and office leasing ticked up as well. Loan volumes rose broadly. The energy and agricultural sectors saw continued expansion. Employment rose robustly, and wage growth remained elevated due to widespread labor shortages. Supply-chain bottlenecks continued to drive up costs and prices rose. Outlooks improved though uncertainty surrounding labor and supply-chain challenges increased.

Read more...Eleventh District Beige Book 12/1/21 via Dallas Fed