Tag Archive for ‘multifamily’

Apartment and Condominium Market Remains Steady in the Third Quarter

In the third quarter of 2015, the NAHB’s Multifamily Production Index (MPI) increased one point to a level of 56. This marks the 15th consecutive quarter with a reading of 50 or above, which indicates that more respondents report conditions are improving than report conditions are becoming worse. The MPI is fairly consistent with the strong performance of multifamily starts, which have recovered from… Read More ›

Housing Construction Continues Forward

Permits to build new homes increased 4.1% in October to a level of 1.15 million per year. Both single-family and multifamily levels increased by 2.4% and 6.8% respectively. On a year-to-date basis, total permits are up 11.9%; single-family are up 8.6% and multifamily are up 17.2% as the housing market continues its modest pace of recovery. Housing starts were down… Read More ›

Rebounding Energy Prices in October

Energy prices rebounded and the Consumer Price Index (CPI) rose moderately in October. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose at a seasonally adjusted annual rate of 2.4% in October after a 1.8% decline in September and a 0.8% decline in August. Excluding the volatile food and energy components, “core” CPI rose at… Read More ›

Apartment Absorptions for the Second Quarter

The rental apartment market continued to be strong during the second quarter of 2015, as multifamily production levels remain elevated. According to NAHB analysis of the most recent data from the Census Bureau and Department of Housing and Urban Development Survey of Market Absorption of Apartments (SOMA), completions of privately financed, unsubsidized, unfurnished rental apartments in buildings with five or more units totaled… Read More ›

Residential Construction Spending Continued Rising in September

NAHB analysis of Census construction spending data shows that total private residential construction spending for September increased, rising to a seasonally adjusted annual rate of $395 billion. On a month-over-month basis, private single-family spending was $222 billion, up by 1.3% over the revised August estimate. Private multifamily spending increased to $57 billion, up by 5%. Annually, the pace of multifamily… Read More ›

Rising Construction Share of One-Bedroom Apartments

As multifamily construction continues to show strength, the composition of apartment development has been evolving. Typical unit size remains below levels seen during the housing boom, and this change is associated with a rise in the market share of one-bedroom apartments. In a prior post, we examined the multifamily trend of an increasing share of units located in large buildings (properties… Read More ›

Builders Build More Homes

Housing starts for the month of September rose 6.5% to an eight year high of 1.206 million units on a seasonally-adjusted annual basis. The increase was all in the multifamily sector, rising 18.3% to 466,000. Single-family starts were virtually unchanged at 740,000. This is the first month total starts passed the 1.2 million mark since October 2007. The trends in… Read More ›

Lower Energy Prices, Lower Consumer Prices in September

The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) declined at a seasonally adjusted annual rate of 1.8% in September after slipping 0.8% in August. Excluding the volatile food and energy components, the “core” CPI rose at a seasonally adjusted annual rate of 2.6% in September, faster than 0.9% in August. In September, energy prices dropped… Read More ›