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.
AIA’s ABI score for February was 53.3 compared to 44.9 in January.
Rampant cancellations augur further declines ahead.
Canceled projects, supply-chain woes threaten future jobs.
The same firms are already struggling to cope with pandemic impacts.
Costs and delayed deliveries of materials, parts, and supplies are vexing many contractors.
Association officials urge congress and Biden administration to focus on new infrastructure funding.
Private nonresidential market shrinks 10% since January 2020 with declines in all 11 segments.
Predicts second-half improvement toward normalization next year.
AIA’s Architecture Billings Index (ABI) score for January was 44.9 compared to 42.3 in December.