by admin | Oct 26, 2015 | Market Data
WASHINGTON, DC Markets remain pretty tight, even as new apartment construction continues to increase, says Jay Obrinsky at the National Multifamily Housing Council on the councils latest survey of senior industry executives.
Source: www.globest.com
The apartment market continues to grow nationally, judging by the latest quarterly results from the National Multifamily Housing Council, which on Friday reported increases in all four of its indices. However,Real Capital Analytics’ latest quarterly report on the sector suggests that growth in all one of those metrics—sales volume—is starting to mature.
by admin | Oct 26, 2015 | Market Data
Lawmakers and industry groups are urging FHA to update condo rules to provide more homeownership opportunities for first-time buyers.
Source: www.nationalmortgagenews.com
Lawmakers and housing groups are urging the Federal Housing Administration to relax its condominium regulations to help open up homeownership opportunities for first-time buyers and urban families.
More than 50 House members signed a letter last week asking the FHA to make policy changes.
The current condo rules were born during the crisis and are severely limiting buyers’ ability to access the condo market.
As a direct result, the FHA has endorsed far fewer condo loans in recent years. It backed only 22,800 such loans in 2014, down from 57,830 in 2013 and 93,470 in 2010.
by admin | Oct 26, 2015 | Market Data
Source: www.businessobserverfl.com
The downtown Sarasota market is finally seeing the proposed apartment projects breaking ground and coming to fruition.
Vertica Partners and Framework Group and getting ready to break ground on their project in the Rosemary District at Fruitville & Lemon by 1Q 2016.
by admin | Oct 26, 2015 | Market Data
While some thought the skyrocketing rents of 2014 couldn’t be sustained, they did, and then some.
Source: www.cnbc.com
The apartment market is without question the hottest asset class in commercial real estate as it continues its strong run, however, it is clearly a tale of two apartment markets.
The pipeline of new product is rich and full in urban downtowns, which will likely temper the rent gains there over the next few years. When doing the math on suburban or Class B markets, however, developers and investors just don’t see desirable returns. Weak income growth will simply not support rent growth
by admin | Oct 26, 2015 | Market Data
Florida’s housing market saw more sales, an increase in median prices and a tight inventory of homes for sale in September, according to data released by Florida Realtors and reported by Legislative IQ via Lobbytools. The statewide median sale price for a single family home hit $199.900 last month, an 11.1 percent increase year over …
Source: floridapolitics.com
Florida’s housing market saw more sales, an increase in median prices and a tight inventory of homes for sale in September where median sale price for a single family was $199,900 (11.1% YOY increase). Townhouses and condos median sale price was $150,000 (5.1% YOY increase).
Statewide inventory of homes also tightened in September, with a 4.4 month inventory of single-family homes and a 5.2 month inventory of townhomes and condo properties on the market.
