Tag Archive for ‘multifamily’

NAHB MVI Indicates Healthy, Stable Market for Existing Rental Apartments

In the third quarter of 2012, NAHB’s Multifamily Vacancy Index (MVI) improved 3 points to 33, largely offsetting the previous quarter’s 5 point swing in the other direction.  The MVI is a measure of property owners’ sentiment about vacancies in existing rental apartments, so lower numbers are better. After hitting a record high of 70 in the second quarter of… Read More ›

Data Show Continued Growth in Rental Demand

The Survey of Market Absorption of Apartments (SOMA) indicated an increase in rentals and sales of newly-built apartments during the third quarter of 2012. The SOMA tracks completions and market absorption rates (units rented or sold after construction of the property is complete) for multifamily rental and for-sale housing in 5+ unit properties. The most recent release of absorption rates covers properties… Read More ›

Production of New Apartments: Upward Trend Continues

In October, the previous month’s upward trend in multifamily production continued, as starts in buildings with five or more apartments came in at a (seasonally adjusted annual) rate of 285,000.  Although the line isn’t completely solid, buildings with at least five apartments are generally a reasonable way to draw a distinction between smaller “mom and pop” operations and  the province… Read More ›

Residential Construction Spending Surges on New Construction and Remodeling

Private residential construction spending jumped 2.8% on a month-to-month basis during September 2012. The preliminary estimates for July and August were revised higher as well, from previous prints of -0.1% and 0.9% to 1.3% and 1.2%, respectively. Nominal spending activity on private residential construction has expanded in 13 of the last 14 months, putting it nearly 21% above September 2011… Read More ›

Homeownership Rate Slips during the Third Quarter

The Census Bureau reported the seasonally adjusted homeownership rate fell to 65.3% during the third quarter of 2012. In terms of rates across age groups (which are not seasonally adjusted), only those households headed by persons 65 and over registered an increase in the homeownership rate versus the third quarter of 2011. The under 35 and 55-64 householder cohorts saw… Read More ›

Apartment Production Numbers Hit 4-Year Highs in September

In September, the (seasonally adjusted) annual rate of starts in buildings with five or more apartments was 260,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division.  This is up 25 percent from August, and the highest the five-plus starts rate has been since September of 2008.  To illustrate how far the market has come from the… Read More ›

Multifamily Starts Post Small Drop in August, Remain Strong

In August, the seasonally adjusted annual rate of starts  in buildings with five or more apartments was 208,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division.  This is a 2.8% decrease from the downwardly revised July starts rate. Despite the monthly drop, this rate is nearly 37% higher than the August 2011 rate of 5+ unit starts. … Read More ›

Apartment and Condominium Market Shows Continued Improvement in Second Quarter

The National Association of Home Builders Multifamily Production Index (MPI) improved for the eighth consecutive quarter with an index level of 54. It is the highest reading since the second quarter of 2005. The MPI, which measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100, rose from 51… Read More ›