Tag Archive for ‘multifamily’

Private Residential Construction Holds Steady in February

The Census Bureau reported that private residential construction spending was essentially unchanged between January and February 2012. However, the initial readings for December and January were revised appreciably lower, respectively, to an increase of 0.4% and a slight decline in spending of -0.1% (versus previous estimates of 1.5% and 1.8%). In concert with other indicators such as new housing starts,… Read More ›

Starts, Permits Indicate Relative Health of the Multifamily Sector

In February, the (seasonally adjusted) annual rate of starts  in buildings with five or more apartments was 233,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division.  This is a 29 percent increase from the January starts rate  (which was revised upward slightly) and more than double the starts rate for February 2011.   Although a rate of… Read More ›

Surging Gasoline Prices Boost Overall CPI in March

The Consumer Price Index for All Urban Consumers (CPI-U) jumped 0.4% on a month-to-month basis during February 2012. Although the core and food CPI indices registered very modest gains, energy prices increased 3.2% and accounted for the vast majority of last month’s gain in the overall CPI. In fact, had natural gas prices not posted their fifth consecutive month-to-month decline,… Read More ›

Absorption Rates Rise for Multifamily Units During the Last Quarter of 2011

Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau and the Department of Housing and Urban Development, suggest continued improvement for the multifamily sector. The SOMA tracks completions and market absorption (units rented or sold after construction of the property is complete) for multifamily rental and for-sale housing in 5+ unit properties. Data released in… Read More ›

MVI Shows Ongoing Stability in the Market for Existing Rental Apartments

In the fourth quarter of 2011, NAHB’s Multifamily Vacancy  Index (MVI) declined for a second consecutive quarter—from 35.1 to 34.7   The MVI is based on a quarterly survey of NAHB’s multifamily members, tracking their sentiment about the market for existing apartments on a scale from 0 to 100.  A declining MVI is a positive change, as it indicates that sentiment… Read More ›

MPI Points to Continued Improvement in Multifamily Construction

In the fourth quarter of 2011, NAHB’s Multifamily Production Index (MPI) continued to show improvement, increasing for a sixth consecutive quarter.  The MPI, which is based on a quarterly survey of multifamily builders and developers, tracks sentiment about construction of new apartments on a scale of 0 to 100.  The MPI increased from 47.3 in the third quarter to 48.9 in… Read More ›

Private Residential Construction Spending Hits a Two-Year High

The Census Bureau reported that private residential construction spending activity increased 1.8% during January. The preliminary estimate for December was boosted higher to show a 1.5% gain, versus the originally reported increase of 0.8%. After falling in July 2010 to its lowest reading since mid-1995, spending on private residential construction projects has increased in each of the last six months—rising… Read More ›

Beige Book: Modest Growth Continues, but Some Optimism Emerges for Residential Real Estate

The latest issue  of the Federal Reserve’s Beige Book portrayed modest economic growth across all 12 Fed Districts. This particular theme of “modest” or “moderate” growth has been for most districts in each of the past several releases. Consumer spending, outside of some seasonal items hurt by low snowfall totals, remained solid during January and early February. Major winter tourist… Read More ›

CPI Rises as Core Index and Energy Prices Climb Higher; Real Rents Inch Lower to kick off 2012

The Bureau of Labor Statistics (BLS) reported the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a month-to-month basis during January 2012. Price levels rose across a fairly broad base of categories, as the core, energy and food indexes all registered increases compared to December. If not for the fact that natural gas prices continue to slump… Read More ›

Multifamily Starts Indicate Sustained Recovery

The Census Bureau’s preliminary estimate for starts in buildings with five or more units in January came in at 175,000 (at a seasonally adjusted annual rate)—up 14 percent from the revised rate for December.  About half of January’s increase was due to a 7 percent downward revision to the starts rate for December.              … Read More ›