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.
Texas, Wyoming have worst job losses since February 2020, while Utah, South Dakota add the most.
Construction input prices are 21.1% higher than in October 2020.
Supply chain and labor woes continue.
Gain occurs even as firms struggle with supply chain challenges.
Beaumont-Port Arthur, Texas and Sacramento--Roseville--Arden-
A drop in residential work projects adds to ongoing downturn in private and public nonresidential.
In the third quarter alone, Marriott opened 60 new hotels/7,882 rooms accounting for 30% of all new hotel rooms that opened in the U.S.
The top 25 U.S. markets account for 33% of all pipeline projects and 37% of all rooms in the U.S. hotel construction pipeline.
Supply problems, lack of infrastructure bill undermine recovery.
Renovation and conversion pipeline activity remains steady at the end of Q3 ‘21, with conversion projects hitting a cyclical peak, and ending the quarter at 752 projects/79,024 rooms.