US Regional Economic Map, Nov. 2013 via Business Insider

Deutsche Asset & Wealth Management put together this map that pretty much sums up everything going on in every major region of the U.S. economy.

Read more...US Regional Economic Map, Nov. 2013 - Business Insider

Monthly Review of Texas Economy, November 2013 via Real Estate Center at Texas A&M

The Texas economy gained 267,900 nonagricultural jobs from October 2012 to October 2013, an annual growth rate of 2.4 percent compared with 1.7 percent for the United States (Table 1 and Figure 1). The state’s nongovernment sector added 265,300 jobs, an annual growth rate of 2.9 percent compared with 2.1 percent for the nation’s private sector (Table 1).

Texas’ seasonally adjusted unemployment rate fell to 6.2 percent in October 2013 from 6.4 percent in October 2012. The nation’s rate decreased from 7.9 to 7.3 percent (Table 1).

Table 2 shows Texas industries ranked by employment growth rate from October 2012 to October 2013. Table 3 shows the relative importance of the state’s industries based on number of employees.

Read more...Monthly Review of Texas Economy, November 2013 -- Real Estate Center at Texas A&M

Have Apartment Fundamentals Peaked? via National Real Estate Investor

With vacancy declines slowing to a crawl and rent increases constrained by meager wage growth, market observers are wondering whether apartment fundamentals have peaked. This formulation is imprecise, incorrect and fails to capture the changing dynamics of the sector.

Vacancy declined by 10 basis points during the third quarter to 4.2 percent. Although vacancy compression has clearly slowed over the last couple of years, the decline of 10 basis points does represent a slight acceleration versus last quarter when vacancy was unchanged.

Read more...Have Apartment Fundamentals Peaked? | Multifamily content from National Real Estate Investor

Strong Multifamily Sector Pushes Building Permits Above 1 Million in October via NAHB

Issuance of new building permits rose 6.2 percent to a seasonally adjusted annual rate of 1.034 million units in October due primarily to a double-digit increase on the multifamily side, the U.S. Census Bureau reported today.

This follows a 5.2 percent increase in permit issuance in September to 974,000 units.

Census figures for nationwide housing starts for September and October have been delayed until Dec. 18 as a result of last month’s partial government shutdown.

Read more...NAHB: Strong Multifamily Sector Pushes Building Permits Above 1 Million in October

Commercial Investments Advance 26% in Third Quarter 2013 via NAR Research

While the summer season was in full swing, economic performance during the third quarter of the year accelerated, based on initial estimates from the Bureau of Economic Analysis. The main measure of economic activity—gross domestic product—rose at an annual rate of 2.9 percent. The boost came from upward inventory adjustments. Consumer spending was positive, buoyed by spending on travel and leisure, recreation and home purchases and furnishing. Business spending was cautious, as the specter of a government shutdown loomed large. Net exports were positive to the tune of $44.8 billion for the quarter. And with stronger balance sheets, state and local governments upped their spending, overcoming the federal government’s negative contribution to GDP.

Read more...Commercial Investments Advance 26% in Third Quarter 2013

Data Shows Americans Moving Less; What This Means for Multifamily via Multi-Housing News Online

Americans are on the move, though not as much as in recent years. According to the U.S. Census Bureau, 35.9 million U.S. residents (or 11.7 percent) moved between 2012 and 2013. This shows a decline from the 12 percent of Americans who moved in 2012.

The information, which was taken from Geographical Mobility: 2012 to 2013, also shows that in 2011 a record low of 11.6 Americans moved, which makes 2013’s numbers statistically similar to 2011.

The analysis showed that the most common reasons for moving were housing-related, at 48 percent. This was followed by family-related reasons at 30.2 percent and employment-related reasons at 19.4 percent.

Read more...Data Shows Americans Moving Less; What This Means for Multifamily | Multi-Housing News Online

Texas Manufacturing Outlook Survey 11/25/13 via Dallas Fed

Growth in Texas factory activity picked up for a third consecutive month in November, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose from 13.3 to 16.9, reaching its highest reading in five months.

Other measures of current manufacturing activity indicated further expansion in November. The new orders index came in at 5.4, similar to its October level, and marked a seventh consecutive month of increased demand. The capacity utilization index rose to 16.2, its highest level since March 2011, and the shipments index edged up to 14.8.

Read more...Texas Manufacturing Outlook Survey - Dallas Fed

MF Deliveries to Ramp Up in 2014 via GlobeSt.com

Axiometrics Inc.'s October 2013 apartment report notes that multifamily property deliveries scheduled for 2014 and 2015 are ramping up due, in part to projects launched in 2013. The prediction for 2014 is that deliveries will be nearly two times the level they were in 2013, and nearly three times the level of what was delivered in 2012.

Also, the locally based apartment research firm points out that number of units to be delivered in 2014 has solidified. As such, the firm predicts that 230,000 units will come online next year versus the 133,000 originally forecasted.

Read more...MF Deliveries to Ramp Up in 2014 - Daily News Article - GlobeSt.com

Modest Growth Seen in Commercial Real Estate Markets via National Association of Realtors

Commercial real estate leasing patterns are showing steady but modest growth, according to the National Association of Realtors® quarterly commercial real estate forecast.

Lawrence Yun, NAR chief economist, projects only modest changes in the coming year. "Jobs are the key driver for commercial real estate, and the accumulation of 7 million net new jobs from the low point a few years ago is steadily showing up as demand for leasing and purchases of properties," he said. "But the difficulty of accessing loans remains a hindrance to a faster recovery."

The gross domestic product rose from 2.5 percent in the second quarter to 2.9 percent in the third quarter. NAR's recent Commercial Real Estate Quarterly Market Survey shows leasing activity rose 2 percent in the third quarter from the second quarter, and higher sales levels than a year ago.

Read more...Modest Growth Seen in Commercial Real Estate Markets

NREI/Marcus & Millichap Sentiment Index: Investor Confidence Flying High via National Real Estate Investor

Commercial real estate investors continue to be bullish in spite of political and economic headwinds that threatened to diminish the outlook for the sector. Exclusive results from the NREI/Marcus & Millichap Investor Sentiment Survey show that confidence continues to hover at a near record high.

The NREI/Marcus & Millichap Investor Sentiment Index declined slightly in the fourth quarter to 176, down four points from the record high of 180 reached in the second quarter [Figure 1]. The nominal drop is a testament to the faith investors have in the sector given the tumult that has taken place in recent months. Interest rates spiked more than 100 basis points in the spring and then the 16-day government shutdown nearly led to a government default.

Read more...NREI/Marcus & Millichap Sentiment Index: Investor Confidence Flying High | National Real Estate Investor