DFW is expected to be one of the nation’s top real estate markets in 2023 via Dallas News

Dallas-Fort Worth is expected to be one of the nation’s hottest real estate markets next year for investment and development.

D-FW area trails only Nashville in a scorecard of metro areas that property executives expect to prosper. North Texas’ second-place showing in the annual Emerging Trends in Real Estate markets to watch report is a big improvement from last year’s seventh-place ranking.

Read more...DFW is expected to be one of the nation’s top real estate markets in 2023 via Dallas Morning News

Eleventh District Beige Book October 2022 via Dallas Fed

Growth in the Eleventh District economy continued at a modest pace overall. Expansion in manufacturing activity picked up a bit while service sector expansion eased slightly. Retail and home sales fell. Loan demand declined for the first time in nearly two years, amid rising interest rates. The energy sector continued to expand but growth was constrained by equipment and labor shortages. Local nonprofits reported increased demand for assistance as household costs rose. Drought conditions eased but the relief came too late in the growing season for row crop producers. Solid employment growth continued, though some contacts reported a hiring slowdown. Wage growth remained elevated but eased slightly. Selling price growth eased slightly as well, amid reports of greater difficulty passing on cost increases to customers. Outlooks were generally pessimistic outside of the energy industry, and uncertainty remained elevated. Contacts primarily voiced concern about inflation, labor shortages, and weakening demand.

Read more...Eleventh District Beige Book October 2022 via Dallas Fed

'Frozen' Households Hindering Apartment Market via GlobeSt

Rising inflation, including the higher-than-expected report this week, has again cast an eye on housing prices. The country’s housing supply continues to be below what is ideal, according to Caitlin Sugrue Walter of National Multifamily Housing Council (NMHC).

She spoke Oct. 13 at the National Association of Real Estate Editors national conference in Atlanta, discussing the housing supply situation today and what factors will play in meeting its demand, extending to 2035.

Read more...'Frozen' Households Hindering Apartment Market via GlobeSt

Banks Are Pulling Back On CRE Loans via GlobeSt

Banks are pulling back loans from commercial real estate, Walker & Dunlop CEO Willy Walker told CNBC earlier this week.

“You look at the broader commercial real estate markets and where spreads have gone and CMBS and CLOs, that market is for all practical purposes closed down right now,” he told the network’s Squawk on the Street segment. “Spreads have gapped out so much that getting loans securitized through that execution is tough. I think the big question right now is why aren’t banks lending…banks are trading at ridiculously low multiples because they’re not lending.”

Read more...Banks Are Pulling Back On CRE Loans via GlobeSt

Is Apartment Demand Weakening Due to High Rents? Look for These 3 Signals via GlobeSt

We just witnessed the weakest 3rd quarter for apartment leasing in the 30+ years of tracking the U.S. apartment market. Net absorption registered moderately negative, occupancy ticked down and rents flattened. Is the slowdown due to renters hitting an affordability ceiling?

For most of us, our gut reaction to that question is probably, “Yes.” But what does the data tell us?

Read more...Is Apartment Demand Weakening Due to High Rents? Look for These 3 Signals via GlobeSt

Q3 Brought an End to Coasting on 2021 Multifamily Demand via ALN Apartment Data

The multifamily industry managed to ride the wave of an historic 2021 all the way through the first half of this year. Average occupancy remained higher than in the immediate pre-COVID period thanks to last year’s significant jump in occupancy. This leftover cushion allowed rent growth momentum to continue into the summer of 2022 even as national occupancy trended down from its peak in November 2021 and even as national apartment demand was dramatically lower than usual.

Read more...Q3 Brought an End to Coasting on 2021 Multifamily Demand via ALN Apartment Data

ALN Monthly Market Stats October 2022 via ALN Apartment Data

ALN Data just released their September 2022 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 October 2022 via ALN Apartment Data

Dallas-Fort Worth Economic Indicators 9/28/2022 via Dallas Fed

Dallas–Fort Worth’s rapid economic growth slowed in August. Payrolls contracted, unemployment was unchanged and growth in the business-cycle indexes slowed. Demand for apartments was sluggish in August, though multifamily permit issuance climbed. Single-family permits fell further but remained highly elevated.

Read more...Dallas-Fort Worth Economic Indicators September 28 2022 via Dallas Fed

Austin Economic Indicators October 2022 via Dallas Fed

Austin’s economy slowed in August, as the Austin Business-Cycle Index grew slightly, unemployment declined, and COVID-19 hospitalizations fell. Existing-home sales were stable, while housing inventory recovered, and employment and wage growth declined.

Read more...Austin Economic Indicators October 2022 via Dallas Fed

Any Panic in Q3’s Multifamily Data is an 'Overreaction' via GlobeSt

Apartment demand has proved more sluggish than anticipated, but the market generally is doing what was expected, Greg Willett, First Vice President, National Director IPA Research, Institutional Property Advisors, tells GlobeSt.com.

Third quarter data from Apartments.com, a CoStar company, reported that after four quarters of supply additions outpacing demand, the market is shifting, with national asking rents declining over the last 90 days by 0.4%.

Read more...Any Panic in Q3’s Multifamily Data is an 'Overreaction' via GlobeSt