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Multifamily News


Quarter Share Construction First Quarter Starts Condo
- According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined significantly during the first quarter of 2024. For the quarter, 80,000 multifamily residences started construction. Of this total, 75,000 were built-for-rent. This marks a notable 39% decline from the first quarter of 2023 for the multifamily built-for-rent category. The market share of rental units of multifamily construction starts was flat at a still elevated 96% for the first ... [Read More]


Rates Byrum Quarter Growth Markets Units
- Insights Zonda: Preparing for Future Multifamily Pipeline Gap May 16, 2024 Bumpy economic news, which is likely to continue throughout 2024, includes both positive and negative messages for the multifamily sector, according to Kimberly Byrum, managing principal of Zonda, a housing market research and advisory company , in a recent industry update. The housing shortage and affordability issues for buyers continue to positively impact rental property demand, Byrum says. In addition, consumer ... [Read More]


Construction Single Family April Family Rate Pace
- Single-family starts remained flat in April as mortgage interest rates moved above 7% last month and builders continued to face tight lending conditions. Overall housing starts increased 5.7% in April to a seasonally adjusted annual rate of 1.36 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.   The April reading of 1.36 million starts is the number of housing units builders would begin if development kept this ... [Read More]


Percent Units Month Completions April Average
- The Census Bureau 's new residential construction report for April showed multifamily permits were lower, starts rebounded higher and completions remained about the same. Note that, with this report, the Census Bureau has revised its seasonal adjustment factors. They have restated their results back to January 2017 for permits and to January 2019 for starts and completions. Therefore, the results quoted for recent months in this month's report may have a larger than usual variation from the ... [Read More]

Source: yieldpro.com

Points May Sales Builder Builders Buyers
- With mortgage rates averaging above 7% for the past four weeks per data from Freddie Mac, builder sentiment posted its first decline since November 2023. Builder confidence in the market for newly built single-family homes was 45 in May, down six points from April, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The market has slowed since mortgage rates increased and this has pushed many potential buyers back to the sidelines. A lack of ... [Read More]


Prices Input April Construction Costs Ken Simonson
- Dive Brief: Construction input prices increased 0.5% in April due to inflation and energy costs, according to a new Associated Builders and Contractors' analysis of U.S. Bureau of Labor Statistics Producer Price Index data released Tuesday. The jump in April marks an increase in input prices for every month of 2024 so far. Both overall and nonresidential construction costs remain 2.3% and 2.2% higher, respectively, than a year ago, according to the report. "Construction input prices jumped half ... [Read More]


Percent Price Index Prices Price Index Month
- The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were up 0.3 percent month-over-month in April on a seasonally adjusted basis. In addition, the change in construction materials prices for March was revised from a 0.1 percent decline to a 0.1 percent increase. The index of components and materials for construction was up 1.7 percent from its year-earlier level. Overall prices for processed goods for intermediate demand were ... [Read More]

Source: yieldpro.com

Market Rise Year Units Year Over Year Component
- Confidence in the market for new multifamily housing declined year-over-year in Q1 2024, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB).  NAHB stated that the MMS produces two separate indices: the Multifamily Production Index (MPI) had a reading of 47, down three points year-over-year, while the Multifamily Occupancy Index (MOI) had a reading of 83, up one point year-over-year. The MPI measures builder and ... [Read More]

Source: rismedia.com

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