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.
Construction input prices are 24.3% higher than a year ago, while nonresidential construction input prices increased 23.9% over that span.
The 24.3% increase in prices for materials used in construction from May 2020 to last month was nearly twice as great as in any previous year
Materials and labor shortages suppress contractor confidence.
As the country that set up the LEED initiative, the US is a natural leader in constructing green buildings.
Seasonally adjusted construction employment in May totaled 7,423,000.
Houston-The Woodlands-Sugar Land and Odessa, Texas have worst 14-month construction job losses.
Spending was down on a monthly basis in nine of 16 nonresidential subcategories.
Public and private work declines amid supply-chain woes, soaring costs.
Texas and Louisiana have worst job losses since February 2020, while Utah and Idaho are the top gainers.
Demand signals construction is recovering.