Tag Archive for ‘multifamily’

Solid Gain for Starts in February

Total housing starts posted an increase in February, with a solid gain for single-family construction and ongoing elevated levels of multifamily development. Total starts were up 3%, rising to a 1.288 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. Single-family starts recorded a monthly increase of 6.5% in February, rising to an 872,000 annual rate,… Read More ›

Consumer Price Index Rose Slightly in February

The Consumer Price Index (CPI), reported by the Bureau of Labor Statistics (BLS), rose in February. The CPI rose at a seasonally adjusted annual rate of 1.5% in February, the smallest increase since July 2016. Excluding the volatile food and energy components, “core” CPI increased at a seasonally adjusted annual rate of 2.5%, following the 3.8% increase in January. The… Read More ›

Apartment and Condominium Market Momentum Continues

The National Association of Home Builders’ Multifamily Production Index (MPI) increased two points to 55 in the fourth quarter of 2016. For five straight years, the MPI has been at or above 50, which indicates that more respondents report conditions are improving than report conditions are getting worse (Figure 1). Figure 1: NAHB Multifamily Production Index (MPI) and Multifamily Starts… Read More ›

Multifamily Construction: 4Q16

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 ›

Single-Family Housing Starts Post Slight Gain

Total housing starts recorded a small decline in January, as multifamily starts fell back, albeit from an upwardly revised number in December. Total starts were down 2.6%, falling to a 1.246 million seasonally adjusted annual rate. However, single-family starts posted a small monthly increase in January, rising 1.9% to an 823,000 annual rate As measured on a three-month moving average, the current changes… Read More ›

Single-Family Housing Starts Up 9% in 2016

Housing starts rebounded in December, as monthly volatility for multifamily starts continued. Total starts were up 11.3%, rising to a 1.226 million seasonally adjusted annual rate. However, single-family starts posted a small monthly decline in December, albeit recording the fourth strongest monthly pace since the end of the recession. According to estimates from the Census Bureau and the Department of Housing and Urban Development,… Read More ›

Consumer Price Index Rose in December

The Bureau of Labor Statistics (BLS) reported the Consumer Price Index (CPI) rose in December. Both headline inflation and core inflation rose. The CPI rose at a seasonally adjusted annual rate of 3.4% in December, following a 2.4% increase in November. Excluding the volatile food and energy components, “core” CPI increased at a seasonally adjusted annual rate of 2.8%, faster… Read More ›

Absorption Data Indicate Multifamily Market Leveling Off

The US Census Bureau recently released data on multifamily completions and absorption rates from the second quarter of 2016. Completions of privately financed, unfurnished, unsubsidized apartments in buildings with five or more units totaled to 62,600, which is approximately 5,000 fewer than completions in the second quarter of 2015 (Figure 1). Examining Figure 1 further indicates a leveling off of multifamily… Read More ›

Moderate Rise for CPI in November

The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose in November and the pace of headline consumer inflation slowed in November from 4.37% to 2.43%. The CPI rose at a seasonally adjusted annual rate of 2.43%, slowing from 4.37% in October. Excluding the volatile food and energy components, “core” CPI rose at a seasonally adjusted… Read More ›