Multifamily rents drop in September 2024
The average multifamily rent fell by $3 in September to $1,750, while year-over-year growth was unchanged at 0.9 percent.
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The average multifamily rent fell by $3 in September to $1,750, while year-over-year growth was unchanged at 0.9 percent.
National nonresidential construction spending increased 0.1% in August, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.22 trillion.
Research platform StorageCafe has conducted an analysis of U.S. real estate activity from 1980 to 2023, focusing on six major sectors: single-family, multifamily, industrial, office, retail, and self-storage.
As the summer season winds down, student housing performance remains strong. Preleasing for Yardi 200 schools rose to 89.2% in July 2024, falling just slightly behind the same period last year.
Anchin’s poll of 20 AEC clients finds a “growing optimism,” but also multiple pressure points.
Construction spending in November totaled $1.63 trillion at a seasonally adjusted annual rate.
Construction employment increased in 237 or 66% of 358 metro areas over the last 12 months.
Firms struggle to find qualified workers to keep up with demand.
Construction officials say efforts to address supply chain challenges have been insufficient.
Changing conditions could be on the horizon.
Gains were in all segments, but the industry will need even more workers as demand accelerates.
Growth in most public and private nonresidential types is offsetting the decline in residential work.
Spending was up on a monthly basis in 13 of the 16 nonresidential subcategories.
The pandemic and supply chain woes may limit gains.