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Multifamily News


Richmond Richmond Rent Percent Year Yardi Matrix Report Deceleration
- Following a record 2021, rates continued to grow despite a solid pipeline. Richmond rent evolution, click to enlarge The Richmond multifamily market started 2022 on the right foot as fundamentals continued to solidify, seasonal rent deceleration notwithstanding. Despite a strong pipeline, rates continued to grow, up 0.4 percent on a trailing three-month basis through February. Meanwhile, the occupancy rate in stabilized properties climbed 60 basis points in the 12 months ending in January, to a ... [Read More]


Units Market Mpi Occupancy Point Moi
- WASHINGTON — Confidence in the market for new multifamily housing turned downward in the first quarter of 2022, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) decreased six points to 48 compared to the previous quarter, dipping below the break-even mark of 50 for the first time in three quarters. The Multifamily Occupancy Index (MOI) ... [Read More]


Fannie Mae Forecast Growth Fannie Mae's Units Forecasts
- Fannie Mae 's latest economic forecast calls for lower GDP growth and higher inflation in 2022 than in earlier forecasts. Their new housing forecast predicts multifamily housing starts to be higher in 2022 but lower in 2023 than did previous forecasts. Housing: multifamily up, single-family down Fannie Mae now expects multifamily starts (2+ units per building) for 2022 to come in at 502,000 units, up 6.5 percent from the number of units started in 2021. This forecast is up 20,000 units from the ... [Read More]

Source: yieldpro.com

Construction Share Townhouse Construction Quarter Townhouse Family
- According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design , during the first quarter of 2022 single-family attached starts totaled 36,000, which is 16% higher than the first quarter of 2021. Over the last four quarters, townhouse construction starts totaled 152,000 units, 25% higher than the prior four quarter total (122,000). Using a one-year moving average, the market share of new townhouses increased to 13.4% of all single-family starts. This ... [Read More]


Percent Months Pittsburgh 12 Months Basis Rate
- Occupancy in upscale assets recorded a strong 180-basis-point hike in 12 months. Pittsburgh rent evolution, click to enlarge The Pittsburgh multifamily market had a largely unremarkable 2021. Although fundamentals began recovering, they remained below the national average in rent gains, inventory expansion and economic growth. On a trailing three-month basis through February, rents rose 0.3 percent to $1,266, half the pace of the national rate. Meanwhile, overall occupancy rose to 96.1 percent, ... [Read More]


Percent Units Month April Average Housing
- The Census Bureau ’s new residential construction report for April showed continued high levels of multifamily housing construction permit issuance and unit starts, but unit completions declined, resulting in another increase in the number of units under construction. Note that the Census Bureau periodically reviews how they apply seasonal adjustment factors to their data. With this month’s report, Census has revised all of the seasonally adjusted results they have reported since January ... [Read More]

Source: yieldpro.com

Points Sales Rates Builder Hmi Home
- In a sign that the housing market is now slowing, builder confidence took a steep drop in May as growing affordability challenges in the form of rapidly rising interest rates, double-digit price increases for material costs and ongoing home price appreciation are taking a toll on buyer demand. Builder confidence in the market for newly built single-family homes fell eight points to 69 in May, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). ... [Read More]


Year Market U S Quarter Level Investment
- In the first quarter of 2022, the U.S. multifamily market followed last year’s record-setting performance with another strong showing. According to Moody’s Analytics CRE , rent growth remained strong, climbing 15.6% year-over-year, higher than the 12.7% increase for all of 2021. New rent records were set in the third quarter of 2021, increasing 12.7% for the year. Rents are forecasted to increase 5.5% for 2022, and then average 3.0% over the next three years. The vacancy rate improved to ... [Read More]

Source: arbor.com

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