The Shift Toward Renter Nation via Property Management Insider

A consistent sentiment among multifamily housing leasing professionals is to know your resident and understand that one size does not fit all. The industry has strived in recent years to appeal as much as possible to individual preferences, especially in lease processes, while keeping a keen eye on the trends that drive folks to rental housing.

Understanding what drives residents and prospects to apartments is no easy task. In a world driven by personal preference and instant gratification, providing the right housing options may seem like a Herculean task.

Read more...The Shift Toward Renter Nation

Houston Rental Property Market Trends 2016 via Appfolio

Texas has enjoyed strong rental growth for the past few years. Even so, as Axiometrics reported earlier in the year, the rate of rental growth has been much stronger in northern metro areas than in southern ones. Of the southern cities, Houston’s problem with occupancy rates and rental growth may result from overbuilding and an emphasis on building high-end units at the expense of more affordable housing. To understand what’s happening with the rental market in Houston, it might help to take a closer look at this issue.

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Dallas Beige Book 9/7/16 via Dallas Fed

Economic activity in the Eleventh District expanded slightly over the past six weeks. Manufacturing activity was flat to up, and demand for nonfinancial services increased. Overall retail sales declined slightly on net, although automobile sales remained strong. Real estate activity was flat to up in most markets. Loan demand remained soft. Demand for oilfield services remained depressed, but contacts expect conditions to improve through the end of the year and into 2017. Agricultural conditions were favorable, although crop prices remained low. Reports of employment changes were mixed and prices held steady. Outlooks were generally positive but cautious, with the upcoming presidential election driving some of the uncertainty. Several contacts said they believe the worst of the oil bust slump has passed, but that economic growth has not yet returned to normal levels.

Read more...Dallas Beige Book - Dallas Fed

Austin Economic Indicators September 2016 via Dallas Fed

The Austin economy grew moderately in July. The Austin Business-Cycle Index leveled off after 17 consecutive months of deceleration. Jobs grew well above the trend rate of 3 percent, and wage growth remains robust. The unemployment rate jumped by nearly half a percentage point but continues to be among the lowest of all Texas metros.

Read more...Austin Economic Indicators September 2016 via Dallas Fed

Millennials will be renting for a lot longer via CNBC

The U.S. housing market continues to move ahead, but a generation of homebuyers is being left behind.

That's the conclusion of an analysis of homeownership by John Burns, a real estate consultant and author who has crunched the numbers in a new report.

Homeownership rates have fallen across all age groups since the housing collapse in 2009, but the biggest drop has been among the millennial generation.

Read more...Millennials will be renting for a lot longer

2016 Could Signal a Cyclical Peak in Commercial Construction via NREIonline.com

Commercial developers have been busy in 2016. Construction starts saw a hearty boost this year, fueled by multifamily, office and lodging sectors. But analysts expect rates of new construction to taper off through 2020.

Private non-residential construction increased 7.0 percent year-over-year, according to research and ratings firm Moody’s Investor Service. Cincinnati-based construction data firm ConstructConnect, formerly CMD Group, meanwhile tabulated year-over-year growth of 8.1 percent across all commercial property types.

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Apartment renters aren't moving much via USA Today

Apartment dwellers are staying put in record numbers, a brand of loyalty that’s helping drive up rents.

The share of renters opting to renew their leases hit an all-time high of 53.8% through the first seven months of the year, up from 52.9% in 2015, according to new data from property management software provider RealPage.

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Apartment Transactions Fall 30% in July via Multifamily Executive Magazine

The apartment transaction market fell 30% year over year (YOY) in July, according to a new Real Capital Analytics (RCA) report. But a 33% increase in June means sales are still up 1% YOY for the summer so far.

“The monthly declines in sales volume for the apartment sector were widespread, with all subtypes and deal structures down from a year earlier,” RCA wrote. “This said, the elevated pace of deal activity in June almost suggests acquisitions aimed at hitting midyear goals, with July as a time to pull back and regroup.”

Read more...Apartment Transactions Fall 30% in July | Multifamily Executive Magazine | Dispositions and Transactions, Sales, Cap Rates, Transactions

Multifamily Performance Continues to Lag via GlobeSt.com

With job growth still at a low point and apartment construction as heavy as ever, performance in the market is continuing to lag. However, there is a bright spot on the horizon, albeit in 2018, says Axiometrics, provider of apartment and student housing market intelligence.

“One sunny spot is that the pace of annual effective rent growth decline leveled out a bit,” says Stephanie McCleskey, vice president of research for Axiometrics. “But until the amount of new supply diminishes and the energy sector starts adding jobs again, Houston’s apartment market will likely be sluggish. And effects of supply relief likely won’t be felt until 2018.”

Read more...Multifamily Performance Continues to Lag | GlobeSt.com

Economy Watch: Apartment Starts Gain, Inflation Stays Low via Multi-Housing News Online

Though some U.S. markets are facing a sizable number of apartment properties coming on line— especially in the upper price points in markets such as Seattle and Denver—overall the development of apartment product continues at a fairly strong pace, according to data released by the Census Bureau in its report on housing permits and starts on Tuesday.

In July, apartment starts gained 8.3 percent for the month, noted the bureau (which tracks buildings with more than five units as its multifamily category).

Read more...Economy Watch: Apartment Starts Gain, Inflation Stays Low