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Multifamily News
Apr 26th, 2024 - The average return on investment of 55.3% was the smallest quarterly figure in more than two years U.S. home sellers reaped slimmer profit margins on median-priced single-family homes and condominiums during the first quarter of 2024. In fact, profit margins — the difference between the median purchase and resale prices — slumped to 55.3%, down from 57.1% in the fourth quarter of 2023, according to Attom 's 2024 U.S. Home Sales Report . It was the smallest level of profit ... [Read More]
Source: housingwire.com
Apr 25th, 2024 - Since the Fannie Mae Green Rewards program launched in 2015, green financing has become a mainstay of commercial real estate. In addition to reducing the environmental impact of multifamily housing, the Green Rewards program creates a triple bottom line with increased cash flows, higher quality housing, and incentives for lower energy and water usage. With a high upside and little downside, the program is well worth multifamily borrowers' consideration. What is Fannie Mae Green Rewards? It is a ... [Read More]
Source: arbor.com
Apr 25th, 2024 - Fannie Mae 's April economic forecast calls for multifamily housing starts to decline modestly through the end of 2025. Single-family housing starts are expected to rise but at a lower rate than predicted last month. Fannie Mae's forecasters are predicting that the Federal Reserve will leave the Fed Funds rate unchanged until Q4 2024, and then will cut twice to a rate of 5.0 percent by the end of the year. This is down from 3 cuts predicted for 2024 in last month's forecast. However, they are ... [Read More]
Source: yieldpro.com
Apr 24th, 2024 - Despite higher interest rates last month, new home sales rose in March due to limited inventory of existing homes, according to analysis from the National Association of Home Builders . However, the pace of new home sales will be under pressure in April as mortgage rates moved above 7% this month, which is expected to moderate sales and increase the use of builder sales incentives this Spring. Sales of newly built, single-family homes in March rose 8.8% to a 693,000 seasonally adjusted annual ... [Read More]
Source: lbmjournal.com
Apr 23rd, 2024 - Starts for U.S. multifamily developments of more than five units dropped 43.7% in March compared with the same month in 2023, the Census Bureau and the Department of Housing and Urban Development reported . The decrease is the latest sign of a slowdown in development among multifamily landlords after a flood of new units began in 2021 and 2022. In March 2024, apartment starts came in at an annualized rate of 290,000 units, compared with 515,000 units during the same month a year ... [Read More]
Source: bisnow.com
Apr 22nd, 2024 - The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices in March fell 0.9 percent from their level of the month before. This is down slightly from last month's reported decline of 1.0 percent . Prices were down 8.4 percent from their level of one year before. Defining CPPI MSCI tracks an index called the Commercial Property Price Index (CPPI). The index is computed based on the resale prices of properties whose earlier sales prices and ... [Read More]
Source: yieldpro.com
Apr 22nd, 2024 - Dive Brief: Concord, California-based Swinerton has started the construction of Oxbow , a $97.8 million, mixed-use multifamily development with heavy mass timber elements in Charlotte, North Carolina, the builder announced on April 11. Once complete, Oxbow will contain six floors with nearly 14,300 square feet of commercial space, per the release. For residents, it holds 389 rentals that range from studio apartments to four-bedroom units. Amenities include a gym, rooftop patio, bike storage and ... [Read More]
Source: constructiondive.com
Apr 22nd, 2024 - Nonfarm payroll employment increased in 44 states in March compared to the previous month, while six states and the District of Columbia saw a decrease. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 303,000 in March , following a gain of 270,000 jobs in February. According to analysis from the National Association of Home Builders , on a month-over-month basis, employment data was most favorable in California, which added ... [Read More]
Source: lbmjournal.com
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