Tag Archive for ‘multifamily’

Residential Construction Spending Increased 18.3% in 2013

Total private residential construction spending increased in December for the second consecutive month to a seasonally adjusted annual rate of $352.6 billion according to Census estimates. The current reading is a 2.6% increase above the revised November figures and 18.3% higher than one year ago. Single-family spending registered a healthy increase of 3.4% for the month, while the multifamily category saw a more modest increase… Read More ›

Average Size of New Multifamily Units is Rising

After rising during the boom years and falling during the Great Recession, the average size of newly built, multifamily units remains close to levels seen a decade ago. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily units is likely to rise. According to third quarter data from the Census Bureau, the average square footage… Read More ›

What Multifamily Properties Are Most Expensive to Maintain?

Trying to fill the void that was created in 2001 when the Residential Finance Survey (RFS) was discontinued, the US Census Bureau started collecting data on financial, physical and other characteristics of multifamily rental housing properties through its newly designed Rental Housing Finance Survey (RHFS). The first survey took place in 2012. The estimates are still under review by the… Read More ›

Apartment Absorption Rates Rise

Absorption rates for new rental and for-sale multifamily units continued to improve during the third quarter of 2013, consistent with the positive trends that been in place since the end of the Great Recession. According to data from the Survey of Market Absorption of Apartments (SOMA), completions of privately financed, unsubsidized, unfurnished rental apartments were up strongly for the four… Read More ›

Finance Chair Tax Reform Draft: Impacts for Builders and Multifamily

This week saw the release of a number of tax reform drafts from Senate Finance Committee Chairman Max Baucus.  Coming after drafts concerning international tax rules and tax administration, the final release of the week involved depreciation and accounting issues. A number of these proposals would have negative impacts for home building, multifamily, and real estate in general.  It should be… Read More ›

How Long Does It Take to Build Multifamily Housing?

The 2012 Survey of Construction (SOC) from the Census Bureau shows that on average it takes about 12.5 months from obtaining a building permit to completing construction of a multifamily building. In a previous post, we examined the average time it takes to build a single-family home (7 months). In a question posed on NAHB’s Facebook page, a reader asked for… Read More ›

Absorption Rates Rising for New Multifamily Homes

Absorption rates for new rental and for-sale multifamily units continued to improve at the start of 2013, consistent with the positive trends that been in place since the end of the Great Recession. According to data from the Survey of Market Absorption of Apartments (SOMA), completions of privately financed, unsubsidized, unfurnished rental apartments were up strongly in the first quarter… Read More ›

Average Size of New Multifamily Units

After rising during the boom years and falling during the Great Recession, the average size of newly built, multifamily units remains just below levels seen a decade ago. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily units is likely to rise. According to second quarter data from the Census Bureau, the… Read More ›