COMMERCIAL
Multifamily News Feed
Sign up for our weekly newsletter and we’ll keep you in the loop with articles, industry and market trends, construction finance news, and tips from the field, all specifically focused on the multifamily housing market.
Multifamily News
Aug 29th, 2024 - NAHB analyzed the national market share data released by BUILDER Magazine in a previous blog post . Last month, BUILDER Magazine released new data on the top 10 home builders within each of the 50 largest new home markets in the U.S. (ranked by single-family permits) ( Figure 1 ). It is important to note that this post is not specifically analyzing the top 10 largest home builders nationally and each market can differ in its respective top 10 home builder composition. The top 10 ... [Read More]
Source: eyeonhousing.org
Aug 29th, 2024 - The latest rent report from Apartment List shows that the national median monthly rent growth in August was -0.1 percent. Year-over-year rent growth was -0.74 percent. Rents have fallen on a year-over-year basis since June 2023. Apartment List reported the national median apartment rent to be $1,412, down $2 from last month's revised figure . Charting the data The first chart shows the history of the national median rent level since 2017. It is plotted year-by-year so that the annual change ... [Read More]
Source: yieldpro.com
Aug 29th, 2024 - The percentage of new apartment units that were absorbed within three months of completion rose from a decade low 42% to 53% in the first quarter of 2024, according to the Census Bureau's latest release of the Survey of Market Absorption of New Multifamily Units ( SOMA ). The SOMA survey covers new units in multifamily residential buildings with five or more units. The absorption rate within three months for condominiums and cooperative units also rose over the quarter, up from 63% to 69%. The ... [Read More]
Source: eyeonhousing.org
Aug 29th, 2024 - Plans for affordable and sustainable city living Urbanization is rapidly transforming cities worldwide. By 2050, it is projected that 90% of the U.S. population will reside in urban areas, signifying a monumental shift towards city living. This unprecedented urban growth poses substantial implications for housing, particularly in accommodating an expanding and increasingly diverse population within urban centers. As cities become denser, the challenge of providing sufficient, affordable ... [Read More]
Source: housingwire.com
Aug 28th, 2024 - Lumber prices have risen for six consecutive weeks, with the Random Lengths framing lumber composite price increasing by 1.5% in the week ending Aug. 23, 2024, though prices remain 6.8% lower than a year ago. The NAHB attributes recent lumber price volatility to factors like increased demand, tariffs, and supply-chain issues, while advocating for policy changes to stabilize the market. According to the NAHB, the framing lumber composite price rose 1.5% during the week ending Aug. 23. After ... [Read More]
Source: bdmag.com
Aug 28th, 2024 - Boston proper is set to welcome 1,813 new apartment units in 2024. The Boston metro area made the top 20 list for the highest number of new apartment units slated to hit the market by the end of 2024, according to a report RentCafe published on Aug. 7. About 8,022 newly constructed apartment units are projected in the Boston rental market, according to the report. The metro area ranks No. 19 on the nationwide list in terms of total volume of new apartment construction. Eleven metros and ... [Read More]
Source: boston.com
BWE Secures $42.5M to Build New Affordable Housing Across the South Including The Villages at Carver
Aug 27th, 2024 - BWE , a national commercial and multifamily mortgage banking company, announced that it has secured a combined $42,502,000 in loans to finance the construction of affordable and workforce housing developments in cities across Georgia, South Carolina, and Texas. The Villages at Carver is one property BWE has acquired. Jon Killough , BWE executive vice president in Alabama, and John Roberts, BWE vice president in Dallas, Texas, originated the loans and bond purchases on behalf of the borrowers. ... [Read More]
Source: yieldpro.com
Aug 26th, 2024 - With the dog days of summer upon us and the year more than half way through, there are still a plethora of questions of where the housing market is headed. Per new data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, new home sales dropped to the lowest level since November 2023. Sales of new homes in June fell to 617,000 seasonally adjusted annual rate, while the pace in June was down 7.4% from the year prior. Elevated mortgage rates which hovered at an ... [Read More]
Source: bdmag.com
SOLUTION
Multifamily
Durability for developers, reliability for residents, perfection for performance. Whether it’s one residence or one thousand, Symmons has the durability, quality, and style outside the wall, and the ease of installation and maintenance inside.
Explore Our Solutions for Multifamily