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Tag Archives: Multifamily

Micro Apartments Yield A Big Boom in the Small Space Sector

Ever since the economy took a hit in 2008, downsizing has been a top priority for many homeowners and renters. The McMansion is out; low-maintenance living is in. You can see it in traditional listings as well as on the real estate auction block. With finances still in flux for most Americans, cutting back on monthly costs of maintaining a home or apartment is essential. Enter the micro apartment—the latest trend in economical living space.

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FDIC Institutions Report First Loss in More Than Four Years

For the first time in more than four years, banks insured by the Federal Deposit Insurance Corporation (FDIC) reported an annual loss, according to the regulator's Quarterly Banking Profile released Tuesday. At $36 million, the net income of FDIC-insured banks in the third quarter is $1.5 million below earnings reported in the third quarter of last year.

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Freddie Mac Completes First Multifamily Bulk Loan Sale

Freddie Mac has announced the completion of its first multifamily bulk loan sale to a global real estate investment firm. An affiliate of Colony Capital purchased the GSE's portfolio of 27 performing loans with an unpaid principal balance of $195 million.

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September Builder Confidence Falters

The Housing Market Index (HMI), a measure of builder confidence, stalled at 58 in September, unchanged from August’s downwardly revised reading, the National Association of Home Builders reported Tuesday. The August confidence reading had originally been 59. Economists surveyed by Bloomberg had expected the index to remain at that level. But a dip in one of the three index components--the outlook for new home sales six months out--pulled the reading down slightly.

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Beige Book Again Sees Modest-to-Moderate Growth

Continuing to shrug off sequester cutbacks, but feeling the effects of adverse weather, the nation's economy ""continued to expand at a modest to moderate pace"" from early July through late August, the Federal Reserve reported Wednesday in its Beige Book assessment. Echoing--or perhaps anticipating--governors' concerns at the upcoming policy meeting, the Beige Book said ""hiring held steady or increased modestly"" while ""upward price pressures remained subdued, and prices increased slightly.""

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NAHB: Confidence in Multifamily Housing Reaches New High

Confidence among developers of multifamily housing units is soaring, according to survey results released Thursday by the National Association of Home Builders (NAHB). ""Multifamily developer confidence is currently at an all-time high according to our survey results, and we expect to see that continue for the foreseeable future,"" said W. Dean Henry, chairman of NAHB's Multifamily Leadership Board. NAHB's Multifamily Production Index rose nine points over the second quarter of this year, reaching its highest rating on record--61.

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NAR Projects Slight Increase for Apartment Vacancies; Rents to Rise

Nationally, NAR forecasts slight drops in vacancy rates across the office, retail, and industrial markets over the next year. Multifamily vacancies are expected to edge up very slightly, on the other hand. The apartment rental market is expected to see vacancy rates climb to 4.0 percent in Q3 2014 from 3.9 percent in the third quarter of this year, ""with construction rising to meet increased demand."" On that token, NAR expects average apartment rents to rise 4.0 percent both this year and the next.

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Single-Family Starts, Permits Drop In July

Led by multifamily activity, new housing permits and starts rose in July with new construction, continuing a shift from single-family homes. The Census Bureau and HUD reported Friday builders broke ground on new homes at a seasonally adjusted annual rate of 896,000 units, up 5.9 percent from June, and filed permits for construction of 943,000 new units, up 2.7 percent from June. Economists surveyed by Bloomberg had expected the pace of total starts to increase to 900,000 and total permits to increase to 918,000.

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Freddie Mac: Multifamily Market Still a Good Investment

Even as the single-family housing market recovers, apartment properties should still be a solid investment in most markets going forward, according to Freddie Mac's analysts. In its mid-year multifamily outlook for 2013, the mortgage giant notes that multifamily market fundamentals such as rents and vacancies continue to improve, with New York, San Francisco, Denver, Seattle, and Los Angeles all seeing marked growth.

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