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.
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The construction unemployment rate was 6.9% in March, up 1.7 percentage points from the same time one year ago.
Private nonresidential spending declined 2% on a monthly basis and is down 0.7% compared to February 2019.
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Construction officials say measure will help firms cope with immediate cash flow crunch, but industry needs compensation for losses.
Survey respondents reported falling prices for five out of the 12 components within the materials and equipment sub-index.