Vol. 78, November 27, 2024
NAHB - EYE ON HOUSING
Small Gain For Multifamily Built For Sale Construction?
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined during the third quarter of 2024.
GLOBEST
New York City Multifamily Pricing Tied To Debt Costs
Multifamily pricing in New York City has moved in tandem with interest rates, but as rates come down, there is hope that prices have hit the trough.
GLOBEST
Apartment Renewals Climb In Most Large Markets
Renewal rates were meaningfully lower in San Diego and Austin, however.
MULTIFAMILY DIVE
Cap Rates Rise 20bps This Year
Apartment sales volume increased 18% YOY in October, while prices fell 6.1%.
GLOBEST
Renters Struggle To Make Payments Despite Easing Rents
One in five renters said they have worked a job they hate to afford housing.
MULTI-HOUSING NEWS
Top NYC Multifamily Building Sales October 2024
PropertyShark collected the city’s top deals for the sector.
GLOBEST
Foreign CRE Investors Poised For 2025 Comeback
Reasons range from macroeconomic shifts to evolving investment strategies.
GLOBEST
Economists Predict Higher Than Previously Expected Real GDP Growth
The median projection for 2025 is 2% GDP growth.
NAHB - EYE ON HOUSING
Best Quarter For Multifamily Missing Middle Construction In 17 Years?
The?missing middle?construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties.
MULTIFAMILY DIVE
Apartment Completions Jump 61% YOY
Starts dropped 12% year over year as new multifamily development continues to cool.
GLOBEST
Expert: CRE Market Already Feeling Election Impacts
The impact is most visible in the interest rate outlook.
GLOBEST
Gradual Recovery Continues As CRE Prices Stabilize
The industrial index posted a significant annual increase in October.
MULTIFAMILY EXECUTIVE
Trump Announces His Pick For HUD Secretary
Scott Turner is a former Texas state representative and pro football player.
GLOBEST
Multifamily In The Sunbelt Are Next In Trouble Says Short Seller Carson Block
“That’s the shoe that hasn’t really dropped yet.”
MULTIFAMILY DIVE
Multifamily Inches Down To $14.2B In Distress
Despite a staggering amount of troubled properties, a number of reports point to an improving landscape.
MULTI-HOUSING NEWS
2024 Employment Update
The Bureau of Labor Statistics’ monthly report on how long unemployed workers are staying jobless.
GLOBEST
Multifamily Maturities Are Bringing Surprising Risk
Negative leverage is coming for many borrowers.
GLOBEST
Rental Market Stabilizes As Supply and Demand Reach Equilibrium
But getting to balance will take time as many factors are still moving.
GLOBEST
Retail And Multifamily Sectors Lead In Crexi’s October CRE Update
There’s strength overall ‘with stable vacancy rates and growing consumer spending.’
NAHB - EYE ON HOUSING
Families Must Spend 38% Of Their Income On House Payments
The National Association of Home Builders /Wells Fargo Cost of Housing Index (CHI) found that in the third quarter of 2024, a family earning the nation’s median income of $97,800 needed 38% of their income to cover the mortgage payment on a median-priced new home.?
GLOBEST
Why Investors Are Flocking To Palm Beach
Related Ross sees opportunities from luxury condos to mixed-use retail.
NAHB - EYE ON HOUSING
Existing Home Sales Rebound In October
Existing home sales in October rebounded from a 14-year low and posted the first annual increase in more than three years, as buyers took advantage when mortgage rates briefly reached a 2-year low in late September, according to the?National Association of Realtors (NAR).
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