RealPage, Richardson, Texas, released its analysis of the apartment market in the second quarter, finding that the U.S. absorbed more than 227,000 units in the period.
Category: News and Trends
Redfin: Asking Rents Fell 0.5% Year-Over-Year in June
Redfin, Seattle, reported the median U.S. asking rent fell 0.5% year-over-year to $1,642 in June. That marks the fourth straight month of annual declines.
Zillow: National Housing Deficit Reached 4.7 Million in 2023
Zillow, Seattle, found that America’s housing deficit grew to nearly 4.7 million homes in 2023, up 159,000 from the previous year.
Single-Tenant Net Lease Cap Rates Stabilize, Boulder Group Reports
Single-tenant net lease cap rates saw little change in the second quarter in a departure from recent years, according to The Boulder Group, Wilmette, Ill.
WalletHub Compiles Best, Worst Places to Rent
WalletHub, Miami, released a new report analyzing where renters in the U.S. are best positioned across 21 key measures related to rental attractiveness and quality of life. The best city, the analysis found, was Overland Park, Kan.
Dealmaker: KeyBank Provides $47M for California Affordable Housing
KeyBank Community Development Lending and Investment, Cleveland, provided a $32 million tax-exempt construction loan and a $15 million taxable construction loan to finance El Camino Commons, an affordable multifamily property in Oceanside, Calif.
CREF Policy Update: ICYMI: Final Tax and Reconciliation Package Contains Numerous Pro-Real Estate Tax Provisions
Commercial and multifamily developments and activities from MBA important to your business and our industry.
CMF Quote of the Week
“The megabill includes numerous–with a Capital N!–MBA-supported tax changes. Make no mistake, with your help, our direct advocacy efforts with lawmakers and their staff ensured the preservation–and in several cases, the enhancement–of several key elements of the 2017 Tax Cuts and Jobs Act.” — MBA’s President and CEO Bob Broeksmit, CMB, on the recently signed tax package
Construction Spending Weakens
Construction spending dipped in May for the seventh straight month, the U.S. Commerce Department reported last week.
Senior Renters Increase, Point2Homes Finds
Point2Homes, Santa Barbara, Calif., found that more seniors are renting now than 10 years ago.