This year’s trend of ever-increasing U.S. multifamily rents continues unabated. Rents increased by $5 in September to mark a new record high of $1,167, according to the latest edition of Matrix Monthly, a survey of the 108 markets covered by Yardi® Matrix.
September’s year-over-year increase of 6.8 percent was 30 basis points higher than the previous two months and the highest growth in the post-recession cycle. Rents have risen every month in 2015.
Read more...Matrix Monthly Documents Sizzling September Apartment Rent Growth | Multi-Housing News Online
Wednesday, September 30, 2015
September Rent Increases Marks New Record High via Commercial Property Executive
U.S. multi-family rents continue climbing this year with the September increase of $5 marking a new record of $1,167, according to the September edition of Matrix Monthly, a report on apartment market trends from Yardi Matrix released today.
September’s year-over-year increase of 6.8 percent was 30 basis points higher than the previous two months and the highest growth in the post-recession cycle.
In August, average nationwide rents rose $7 to $1,162, an increase of 6.5 percent year over year, according to Yardi Matrix data. That was the same percentage increase for July, when the average U.S. apartment rent rose to $1,155.
Read more...September Rent Increases Marks New Record High | Commercial Property Executive
September’s year-over-year increase of 6.8 percent was 30 basis points higher than the previous two months and the highest growth in the post-recession cycle.
In August, average nationwide rents rose $7 to $1,162, an increase of 6.5 percent year over year, according to Yardi Matrix data. That was the same percentage increase for July, when the average U.S. apartment rent rose to $1,155.
Read more...September Rent Increases Marks New Record High | Commercial Property Executive
August 2015 U.S. Renter Retention, Renewals Rise via Property Management Insider
Last month, MPF research reported renter retention and renewals were on the rise. In fact, retention continues its 20-month run above 50% as renewal rates rise 5.4%. MPF Research provides data and insights into reasons why residents are renewing their leases despite rents increasing:
Read more...August 2015 U.S. Renter Retention, Renewals Rise | Property Management Insider
Read more...August 2015 U.S. Renter Retention, Renewals Rise | Property Management Insider
Friday, September 25, 2015
San Antonio Economic Update September 2015 via Dallas Fed
Economic growth in San Antonio held steady in August. Jobs grew at an annualized 1.5 percent, contrasting with a 0.4 percent contraction in the state. The unemployment rate was unchanged at a low 3.5 percent, and indicators of labor demand suggest a continued tight labor market across many industries in the short term. While weakening growth in Texas due to a renewed fall in oil prices is likely to indirectly dampen growth in San Antonio, the metro area should maintain its growth advantage over the state.
San Antonio Business-Cycle Index growth decelerated slightly to a 5.6 percent annualized rate in August. Moderation in the month’s job growth and the steady unemployment rate contributed to this decline, although index growth remains over 2 percentage points above its long-term average.
Read more...San Antonio Economic Update September 2015 via Dallas Fed
San Antonio Business-Cycle Index growth decelerated slightly to a 5.6 percent annualized rate in August. Moderation in the month’s job growth and the steady unemployment rate contributed to this decline, although index growth remains over 2 percentage points above its long-term average.
Read more...San Antonio Economic Update September 2015 via Dallas Fed
DFW Economic Indicators September 2015 via Dallas Fed
The Dallas–Fort Worth economy expanded modestly in August. Year to date, the metroplex has created jobs at a 2.1 percent pace, outperforming both the state’s 1.1 percent and the nation’s 1.8 percent rate. Home prices rose further in the second quarter, and residential construction remained strong. Unemployment in Dallas held steady but ticked down in Fort Worth in August. Dallas Fed business-cycle indexes point to continued growth for the metroplex.
DFW employment grew an annualized 0.5 percent in August, following a 2.8 percent increase in July. The weakness in August was due to a 5.3 percent (annualized) drop in Fort Worth metro-area employment, while Dallas job gains remained strong at a 3 percent annual rate. Employment losses in Fort Worth have been concentrated in the goods-producing sector, which has been hemorrhaging jobs since the beginning of the year—down 10.2 percent (annualized) through August. Payrolls in the Fort Worth service sector have registered net gains of 1.7 percent (annualized) over the same period. Year to date, Dallas has added 48,700 jobs while Fort Worth has shed 2,300.
Read more...DFW Economic Indicators September 2015 via Dallas Fed
DFW employment grew an annualized 0.5 percent in August, following a 2.8 percent increase in July. The weakness in August was due to a 5.3 percent (annualized) drop in Fort Worth metro-area employment, while Dallas job gains remained strong at a 3 percent annual rate. Employment losses in Fort Worth have been concentrated in the goods-producing sector, which has been hemorrhaging jobs since the beginning of the year—down 10.2 percent (annualized) through August. Payrolls in the Fort Worth service sector have registered net gains of 1.7 percent (annualized) over the same period. Year to date, Dallas has added 48,700 jobs while Fort Worth has shed 2,300.
Read more...DFW Economic Indicators September 2015 via Dallas Fed
Texas Economic Indicators September 2015 via Dallas Fed
The Texas economy weakened in August. Although unemployment ticked down, employment growth dipped during the month, and exports were flat. Home prices climbed further in the second quarter, and the Texas Leading Index fell in July and August, which resulted in a slight downward revision to the employment forecast.
Texas employment fell an annualized 0.4 percent in August, in contrast with the nation’s 1.5 percent increase. Texas lost 3,600 jobs in August after adding 31,900 in July. Current Texas employment stands at 11.8 million, according to the Current Employment Statistics payroll survey.
Read more...Texas Economic Indicators September 2015 via Dallas Fed
Texas employment fell an annualized 0.4 percent in August, in contrast with the nation’s 1.5 percent increase. Texas lost 3,600 jobs in August after adding 31,900 in July. Current Texas employment stands at 11.8 million, according to the Current Employment Statistics payroll survey.
Read more...Texas Economic Indicators September 2015 via Dallas Fed
Tuesday, September 22, 2015
U.S. Multifamily, Commercial Debt Hits $1 Trillion in Q2 via World Property Journal
According to the Mortgage Bankers Association, the level of commercial-multifamily mortgage debt outstanding in the U.S. increased by $38.5 billion in the second quarter of 2015, as three of the four major investor groups increased their holdings. That is a 1.4 percent increase over the first quarter of 2015.
Total commercial-multifamily debt outstanding stood at $2.72 trillion at the end of the second quarter. Multifamily mortgage debt outstanding rose to $1.0 trillion, an increase of $23.6 billion, or 2.4 percent, from the first quarter.
Read more...U.S. Multifamily, Commercial Debt Hits $1 Trillion in Q2 - WORLD PROPERTY JOURNAL Global News Center
Total commercial-multifamily debt outstanding stood at $2.72 trillion at the end of the second quarter. Multifamily mortgage debt outstanding rose to $1.0 trillion, an increase of $23.6 billion, or 2.4 percent, from the first quarter.
Read more...U.S. Multifamily, Commercial Debt Hits $1 Trillion in Q2 - WORLD PROPERTY JOURNAL Global News Center
Are Low Oil Prices Impacting Apartment Performance in Houston? via Property Management Insider
Not long ago, Houston was everyone’s can’t-miss market. Now, it’s the market everyone is worried about. Has apartment performance started to wane due to low oil prices?
Watch video...Are Low Oil Prices Impacting Apartment Performance in Houston? | Property Management Insider
Watch video...Are Low Oil Prices Impacting Apartment Performance in Houston? | Property Management Insider
Rent-Growth and Occupancy Rate Hits Another Record High According to Axiometrics Market Report via MultifamilyBiz.com
The national apartment market's effective rent growth rate of 5.1% in August represented the seventh straight month in which the metric was 5.0% or higher -- the longest such streak since Axiometrics, the leader in apartment and student housing market research, began monthly reporting of annual metrics in April 2009.
August's rate, though an 8-basis-point decrease from July's figure, was 104 basis points (bps) higher than the 4.1% of August 2014.
In only five months between April 2009 and February 2015 had the market achieved 5% annual rent growth, Axiometrics' apartment market research shows.
Read more...Rent-Growth and Occupancy Rate Hits Another Record High According to Axiometrics Market Report | MultifamilyBiz.com
August's rate, though an 8-basis-point decrease from July's figure, was 104 basis points (bps) higher than the 4.1% of August 2014.
In only five months between April 2009 and February 2015 had the market achieved 5% annual rent growth, Axiometrics' apartment market research shows.
Read more...Rent-Growth and Occupancy Rate Hits Another Record High According to Axiometrics Market Report | MultifamilyBiz.com
Monday, September 21, 2015
In Some Cities, Even Landlords Think Rents Are Getting Out of Hand via Bloomberg Business
It’s tough to be a renter. Housing costs, in many markets, are rising faster than wages, and there is good reason to think that trend will continue for years to come.
For renters in Austin, Boston, San Francisco, and Houston, however, there may be a slightly less depressing future, a new report shows. Periodically, commercial real estate firm CBRE polls brokers on the rent-growth expectations that apartment landlords are baking into property transactions. And for prime properties in those four cities, those expectations are coming down, according to its most recent report.
Read more...In Some Cities, Even Landlords Think Rents Are Getting Out of Hand - Bloomberg Business
For renters in Austin, Boston, San Francisco, and Houston, however, there may be a slightly less depressing future, a new report shows. Periodically, commercial real estate firm CBRE polls brokers on the rent-growth expectations that apartment landlords are baking into property transactions. And for prime properties in those four cities, those expectations are coming down, according to its most recent report.
Read more...In Some Cities, Even Landlords Think Rents Are Getting Out of Hand - Bloomberg Business
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