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.
Among the 11 subcategories, six saw prices fall last month, with the largest decreases in natural gas.
Among the 16 sectors tracked by the U.S. Census Bureau, nine experienced an increase in monthly spending, led by water supply and highway and street.
Market has experienced no change in office vacancy rates in three quarters.
Demand for work is outpacing the supply of workers.
More than 70% of contractors expect to increase staffing levels over the next six months.
AIA’s ABI score for April showed a small increase in design services at 50.5 in April.
Projects currently under construction stand at 1,709 projects/227,924 rooms.
Nonresidential input prices rose 0.9% compared to March and are up 2.8% on an annual basis.
Latest Rider Levett Bucknall report estimates rise at more than double the rate of 2018 Growth Domestic Product.
Growth was fueled by myriad factors, including personal consumption expenditures, private inventory investment, surprisingly rapid growth in exports, state and local government spending and intellectual property.