Tag Archive for ‘multifamily’

Mortgage Debt Continues to Grow

According to the Household Debt and Credit Report released by the Federal Reserve Bank of New York (FRB NY), the outstanding amount of housing-related debt, both home mortgages and home equity lines of credit (HELOCs), totaled $8.8 trillion in the second quarter of 2016, 2.6% ($225 billion) greater than the level from one year ago. However, the outstanding amount of home equity… Read More ›

New Multifamily Rental Share Remains Strong

An elevated market share for new rental multifamily homes is holding typical apartment size below levels seen during the pre-recession period. However, as multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. The recent pattern of change in the size of new multifamily units stands in contrast to the post-recession increase in the size… Read More ›

Consumer Price Index Dropped Slightly in July

The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) for July. Headline inflation dropped below zero due to the deceleration in the core CPI and the decline in energy prices. The Consumer Price Index (CPI) dropped at a seasonally adjusted annual rate of 0.5% in July, after a 2.6% increase in June. Excluding the volatile food and… Read More ›

Multifamily Strength in July

The July pace of total housing starts increased 2.1% over the June rate, led by strength in the multifamily sector. However, year-to-date measures continue to be consistent with the NAHB forecast of growth for single-family construction this year, as well as a slight dip for apartment development compared to 2015 levels. According to estimates from the Census Bureau and the Department… Read More ›

More Banks Tighten Credit Standards on MF Debt

Results from the most recent Senior Loan Officer Opinion Survey (SLOOS) indicate that lending standards on multifamily residential mortgages continue to show signs of tightening and the pace of tightening is growing. The Federal Reserve Board’s SLOOS asks senior loan officers at large banks their opinion on changes in the standards and terms on, and demand for, bank loans to… Read More ›

Private Residential Construction Spending Stalls in June

NAHB analysis of Census Construction Spending data shows that total private residential construction spending for June registered a seasonally adjusted rate of $445.8 billion, virtually unchanged from the May downwardly revised estimate. Private nonresidential construction spending fell for a third consecutive month in June, down by 1.3%. Within private residential construction, spending on single-family and multifamily both declined in June…. Read More ›

Time to Build an Apartment Building in 2015

The average length of time to complete construction of a multifamily building, after obtaining authorization, was 14 months according to the 2015 Survey of Construction (SOC) from the Census Bureau. The permit-to-completion time increased by approximately one month from 2014 to 2015, as per unit median square footage and share of multifamily for sale rose.   The average time to… Read More ›

Headline Inflation Remained the Same in June

The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) for June. In June, overall inflation was the same as in May, while core inflation declined. The Consumer Price Index (CPI) rose at a seasonally adjusted annual rate of 2.6% in June, equal to the annual rate in May. Excluding the volatile food and energy components, “core” CPI… Read More ›

Private Residential Construction Spending Flat in May

NAHB analysis of Census Construction Spending data shows that total private residential construction spending remained virtually unchanged in May at a seasonally adjusted annual rate of $451.9 billion. Private nonresidential construction spending fell for a second consecutive month in May. Within private residential construction, spending on single-family dropped to $239.2 billion in April, down 1.3% over the upwardly revised April… Read More ›

What Building 1,000 Homes Means to the U.S. Economy

According to NAHB’s National Impact of Home Building model, building 1,000 average single-family homes generates 2,975 jobs and $111.0 million in taxes and fees for all levels of government.  Similarly, building 1,000 average rental apartments generates 1,133 jobs and $42.4 million in taxes. The jobs are measured in full-time equivalents (enough work to keep one worker employed full-time for a… Read More ›