Tag Archive for ‘multifamily’

Vacancy and Homeownership Rates by State – 2014

According to the Census Bureau’s annual estimates from the Housing Vacancy Survey (HVS), the national homeowner vacancy rate is at its lowest point since 2005 and the rental vacancy rate is at its lowest point since 1995. The relatively tight housing and rental markets are occurring concurrently with falling homeownership rates. The homeownership has fallen for 10 straight years. The… Read More ›

Single-Family and Multifamily Construction Spending Continue to Increase

NAHB analysis of Census construction spending data found that on a 3-month moving average basis, from January 2014, single-family construction spending increased 11.4% and multifamily construction spending increased 28.9%. The seasonally adjusted annual spending for single-family construction was $204.9 billion and $48.9 billion for multifamily construction. Single-family and multifamily construction spending both experienced monthly increases over December estimates. Single-family spending… Read More ›

Retreat

Both the University of Michigan Index of Consumer Sentiment and the Conference Board Consumer Confidence Index declined in February after soaring to cyclical highs in January. The Index of Consumer Sentiment Index decreased to 95.4 in February from 98.1 in January, but was up from 81.6 during February 2014. The Consumer Confidence Index decreased to 96.4 in February from 103.8… Read More ›

Builder Sentiment about Multifamily Remains Positive

Builder and developer sentiment about the multifamily market held steady in the fourth quarter, according to results from NAHB’s  Multifamily Production Index (MPI) released earlier today. The overall MPI—a composite measure of sentiment about production of low-rent apartments, market-rate rental apartments and condominiums—was unchanged at 54 in the fourth quarter. The MPI and each of its components is an index… Read More ›

Consumers Prices Fall 0.7% in January

The consumer price index fell for the third straight month as the price of gasoline continued its sharp decline. The prices on expenditures made by urban consumers decreased 0.1% over the past twelve months before seasonal adjustments. According to the latest release from the Bureau of Labor Statistics (BLS) the consumer price index decreased 0.7% on a seasonally adjusted month-over-month… Read More ›

Eye on the Economy: A Slow Start for 2015

Housing and residential construction have gotten off to a slow start at the beginning of the year. January data have been disappointing, although current indicators continue to suggest home building will grow in the year ahead. In particular, solid job growth and historically low mortgage rates should help unleash growing pent-up demand and keep the housing market moving forward. Home… Read More ›

Hints of Growth in Typical Multifamily Unit Size

An elevated market share for rental multifamily homes is holding typical new apartment size below levels seen during the housing boom. 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 of… Read More ›

Use of Depreciation Deductions in Real Estate and Construction

Examination of IRS data demonstrates the importance of various depreciation deductions for the construction and real estate sectors. These rules include the Section 179 small business expensing option, bonus depreciation, and normal tax depreciation. The data also illustrate what classes of property are most common, including the 5-year class for construction equipment and apartment property. This information is useful for the… Read More ›

Who Does LIHTC Housing Serve?

The Low-Income Housing Tax Credit (LIHTC) ensures a supply of affordable rental housing. Created as part of the 1986 tax reform effort, the LIHTC, also known as the affordable housing credit, has been responsible for financing the development of more than 2.6 million affordable rental homes. In a typical year, the housing credit also supports approximately 96,000 jobs. A recent… Read More ›

Apartment Completions Rising

Absorption completions continued to rise during the middle of 2014, with absorption rates for both for-sale and for-rent apartments remaining high during the third quarter. 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… Read More ›