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.
As of Sept. 14, 166 properties reported damage to 8,956 units, about 1.4% of the total supply of apartments, according to ApartmentData.com.
Marriott has the most rooms currently under construction with 482 Projects/67,434 Rooms.
Weakness in spending was widespread.
JLL’s latest construction report shows stability ahead with tech and innovation leading the way.
For the economy, the rate of growth may be low but it’s running on all cylinders.
“The July figures show the continuation of healthy trends in the construction sector of our economy,” said AIA Chief Economist, Kermit Baker.
AIA’s latest compensation report finds average compensation for staff positions up 2.8% from early 2015.
An analysis of mortgage-backed loans suggests that demand remains relatively steady.
Spending in all 12 of the remaining nonresidential construction subsectors retreated on both an annualized and monthly basis.
On average, becoming an architect takes 12.5 years—from the time a student enrolls in school to the moment they receive a license.