News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Apartment Finance Today / October 27, 2013
Occupancy rates increased year over year in most of the top 10 rent growth markets according to a September report from Dallas-based Axiometrics. And while Florida is heating up, the Washington, D.C., area is certainly cooling down.
Nationally, occupancy improved by about 29 basis points across all metropolitan statistical areas, according to the data. Yet, annual effective rent growth declined nationally, from 3.17 percent in August to 2.99 percent in September.
Florida markets are seeing the most popularity and growth in rent and occupancy as Naples, Bradenton and Cape Coral areasRead More
Lindsay Machak / MULTIFAMILY EXECUTIVE / August 23, 2013
Two of the nation’s largest states have seen the largest rent growth over the last year.
San Francisco tops the list of the 50 largest metropolitan areas with rent growth at 7.8 percent in the first half of 2013, while its neighbor across the bay, Oakland, comes in second with 6.9 percent.
San Francisco also posted the nation’s largest rent growth for all of 2012 with 8 percent.
The Las Vegas market fell to theRead More
Diana Olick / CNBC / July 22, 2013
They swarmed the distressed housing market, buying thousands of foreclosed properties and pushing prices higher faster than anyone expected. Now investors are pulling back, dissuaded by the higher prices they themselves brought about.
“Perhaps the numbers aren’t working out,” said Lawrence Yun, chief economist of the National Association of Realtors, which reported that just 15 percent of June sales were by investors. That is the lowest share since the association began tracking this cohort in October 2008.
Current homeowners are now driving the housing market,
Natalia Siniavskaia / NAHB / June 6, 2013
The most recent data from the Survey of Market Absorption of Apartments (SOMA) showed that completions of privately financed, nonsubsidized, unfurnished rental apartments continued to climb in the fourth quarter of 2012. The reported 31,600 completions in buildings with 5+ units were slightly above the third quarter level and more than doubled since the fourth quarter of 2011. At the same time, the absorption rates (units rented or sold after construction of the property is complete) remained high, close to 65 percent. Averaged over 2012, the apartment absorption rates reached 64 percent,Read More
Journal of Light Construction / May 15, 2013
They started building their property portfolios by paying low-ball prices in cash for foreclosed bank-owned properties. But now, big investment companies have started to purchase new houses too, according to a report in Bloomberg BusinessWeek (“Private Equity Taps Builders as Foreclosures Vanish,” by John Gittelsohn).
“Landsmith LP paid $32.5 million this month for 250 Houston-area houses that were built last year,” the report says. “The firm, which began buying properties to rent in 2009, has 2,000 lots for new homes under contract and expects to purchaseRead More