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Multifamily Permitting, January 2013: Approaching Long Term Average

The U.S. Census Bureau posted its January residential permitting numbers by metropolitan statistical area (MSA) on Wednesday, February 27. Privately-owned housing units authorized by building permit in January, measured on a seasonally adjusted annual rate (SAAR), were 925,000. This was an increase of 1.8% from the revised December rate of 909,000, and was 35.2% above [...]

Apartment Market Trends, Asset Class Performance, January, 2013

Asset Class Performance At the national level, Class C properties continued to post the best annual effective rent and occupancy growth rates in January 2013. Annual effective rent growth for Class A properties steadily declined from 5.1% in January 2012 to 3.2% in January 2013. While Class A and C properties have been on opposite [...]

Apartment Market Trends, Occupancy Rate, January, 2013

Occupancy Rate Nationally, the occupancy rate declined 7 basis points (bps) from 94.11% in December to 94.04% in January. Although sequential growth was slightly negative, the occupancy rate was up 49 bps on an annual basis. Even though it is a seasonally slow time of year, the following chart shows the occupancy rate continues to [...]

Apartment Market Trends, Asking Rents and Concessions, January, 2013

Asking Rents and Concessions Nationally, the level of asking rent was practically unchanged between December and January. That resulted in the annual growth rate for asking rents slowing from 2.36% in December to 2.25% in January. A year ago annual asking rent growth was 2.14%. While Axiometrics tracks asking rent growth, effective rent growth is [...]

Apartment Market Trends, Effective Rent, January, 2013

Effective Rent Nationally, annual effective rent growth slowed from 3.72% in December to 3.62% in January. The annual growth rate was 4.0% a year ago, but it has been very steady at close to 3.7% since June 2012. Nineteen of the top 88 MSAs had an annual growth rate greater than 5.0%, including Houston (7.0%), [...]

Jobs Report, January, 2013

Benchmark Revision Boosts Job Growth For 2011 And 2012; Pace of Job Growth Faster Than Previously Estimated On Friday, February 1, 2013, the U.S. Department of Labor’s Bureau of Labor Statistics (BLS) posted its preliminary January employment numbers for the U.S. At the national level, the employment report showed an increase in job gain and [...]

Multifamily Permitting Report, December 2012

Multifamily Permitting, At 268,205 Units, Remained Steady During 2012 The U.S. Census Bureau posted its December residential permitting numbers by metropolitan statistical area (MSA) on Monday, January 28. Privately-owned housing units authorized by building permit in December, measured on a seasonally adjusted annual rate (SAAR), were 903,000. This was an increase of 0.3% from the [...]

Jobs Report: December 2012

December Job Gain Remained Steady Despite “Fiscal Cliff” Debate On Friday, January 18, 2013, the U.S. Department of Labor’s Bureau of Labor Statistics (BLS) posted its preliminary December employment numbers by metropolitan statistical area (MSA). At the national level, the employment report for December reflected an increase in job gain but no change in [...]

2012 Apartment Market Summary

The apartment market produced steady, solid results throughout 2012. While many MSAs moderated from peak rent growth levels achieved during the summer of 2011, national effective rent growth still averaged a healthy 3.85% over 2012. Also in 2012, the occupancy rate averaged 94.2%, as compared to an average of 93.9% in 2011. Because of seasonality, [...]

Multifamily Permits Over 200,000 Units for Thirteen Consecutive Months

Multifamily Permits in November Marks Thirteen Consecutive Months Of Over 200,000 Units The U.S. Census Bureau posted its November residential permitting numbers by metropolitan statistical area (MSA) on Friday, December 28. Privately-owned housing units authorized by building permit in November, measured on a seasonally adjusted annual rate (SAAR), were 899,000. This was an increase of [...]

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