Tag Archive for ‘multifamily’

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 ›

Construction Spending: Improving at a Slower Rate

Total private residential construction spending increased marginally to a seasonally adjusted annual rate of $334.6 billion in July 2013 according to Census estimates. Spending continues to improves, but remains well below the peak pace of $676.4 billion in March 2006. The current reading is 17.2% higher than a year ago. Single-family spending registered a slight increase of 0.5% for the month, while the home improvement category… Read More ›

Housing Starts a Mixed Bag

Data released by the U.S. Census Bureau in conjunction with the Department of Housing and Urban Development indicates that privately-owned housing starts were at a seasonally adjusted annual rate of 896,000 in July, 6% above the upwardly revised June estimate of 846,000 and 21% above the July 2012 rate of 741,000. The month-over-month increase in housing starts reflects sizeable gains… Read More ›