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.
The rise in rental rates marks the 21st consecutive quarterly increase.
Gains reported in five of the top ten markets.
Nonresidential construction input prices increased fell 0.3% in July but are up 9.6% year over year.
AIA releases latest Consensus Construction Forecast.
The metro with the most units under construction and planned as a percent of existing inventory in mid-July was Nashville, Tenn.
Favorable economic conditions produce a sunny summer for the apartment sector.
“The hope is that June’s construction spending setback is merely a statistical aberration,” said ABC Chief Economist Anirban Basu.
The hotel construction pipeline has been growing moderately and incrementally each quarter.
Nonresidential fixed investment represented an especially important element of second quarter strength in the advance estimate.
June represents the latest month associated with rapidly rising construction input prices.