News & Trends

This department of Rental Housing Journal is dedicating to keeping apartment owners, multifamily executives, real estate investors, landlords and other real estate professionals up to date with the latest trends in real estate, property management and more. Here you will find trends in rents, real estate sales, apartment development, the economy at large and property management and investing industry matters.

real estate market trends
Tue
28
Feb
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Community Leaders Join In Grand Opening of Indigo Apartment Homes 

Apartment homes grand opening in California

Community leaders joined an apartment management company in the grand opening of a new 10-story luxury apartment homes community of 463 units in Redwood City, California, 25 miles southeast of San Francisco, according to a release.

Apartment Investment and Management Company (Aimco) is the owner and manager of the Indigo Apartment Homes community it acquired for $320 million and partnered with developer PAULS Corporation.

The first residents moved into their new homes in July and the community is currently 80 percent leased.

"We are thrilled to mark the grand opening of Indigo and its expansion of Aimco's investment in the Bay area,"  Aimco Chief Investment Officer John Bezzant, said in the release.

Wed
22
Feb
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Existing Home Sales Jump In January To 10-Year High

Existing home sales in January jump to 10-year high

Existing home sales stepped out to a fast start in 2017, surpassing a recent cyclical high and increasing in January to the fastest pace in almost a decade, according to a release.

The National Association of Realtors (NAR) said in the release that all major regions except for the Midwest saw sales gains last month.

"Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home," Lawrence Yun, NAR chief economist, said in the release.

 "Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate and deteriorating affordability conditions," Yun said in the release.

Tue
21
Feb
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DocuSign Launches Electronic Payments To Sign and Pay 

DocuSign launches electronic payments

Apartment managers can now have tenants sign a lease and pay at the same time with a new program DocuSign has launched to collect electronic payments at the same time it collects digital signatures, according to a release.

At launch – via the partnership with global payments platform Stripe – users can DocuSign and pay using Android Pay, Apple Pay or any major credit card. DocuSign will continue to integrate new electronic payments partners – including Authorize.Net, Braintree and PayPal – in the coming months. Automated clearing house (ACH) payments, recurring payments and other functionality are expected to be available later this year.

Mon
20
Feb
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New Loan Allows Borrowers To Tap Equity From Renovated Multifamily Properties

A new loan program for multifamily properties from fannie mae

Fannie Mae has introduced a new “moderate rehabilitation supplemental loan” that allows multifamily property owners to take advantage of increases in the value of their multifamily properties following significant renovations, according to a release.

"Our new Mod Rehab Supplemental Loan is a great example of providing value through collaboration with our Delegated Underwriting and Servicing (DUS®) Lenders, because together we're always looking for better ways to serve the needs of multifamily borrowers," Hilary Provinse, Senior Vice President for Multifamily Customer Engagement, Fannie Mae, said in the release.

Fri
17
Feb
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Americans Overoptimistic About Homeownership This Year

Americans Overoptimistic About Homeownership This Year

Americans Overoptimistic About Homeownership This Year

Half of Parents Who Own Homes Struggling to Save for the Future

59 million American adults (one in four) are considering buying a home this year, according to a new Bankrate.com report. That includes about 16 million who are very likely and 20 million who are somewhat likelyi

The truth is, Americans may be feeling a bit too confident about homeownership in 2017. The National Association of Realtors and U.S. Census Bureau report the total amount of existing and new home sales in 2016 at around 6 million. The NAR also notes that total housing inventory ended 2016 at the lowest level since it began tracking the supply of houses in 1999.

Almost two in five minorities report at least some likelihood of buying a house in 2017, more than double the percentage of white Americans who responded the same way.

Fri
17
Feb
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Pierce-Kitsap-Thurston Shows Continuing Strength

Pierce-Kitsap-Thurston Shows Continuing Strength

Pierce-Kitsap-Thurston Shows Continuing Strength

Seattle - Apartment Insights 4th quarter results show the continuing strength of the rental market.  The vacancy rate is 3.64%. Rents climbed 1.5% to $1,111 per month. Not considering rent levels, the market here outperformed metro Seattle for the third straight quarter according to Tom Cain, the firm's principal. 

The data are from his Seattle firm’s statistics and trends on 50+ unit properties in Pierce, Kitsap and Thurston counties. 

Vacancy:  3.64%   

The market vacancy for our nonrandom survey of conventional, stabilized 50+ unit properties in all three counties is 3.64%, up from 3.32% last quarter. The vacancy rate was 4.02% a year ago. The rate for all properties including those in lease-up is 3.92%.

Pierce:  3.55%  

The vacancy rate in Pierce County bumped up from 3.25% to 3.55% this quarter. It was 4.22% a year ago.  

Fri
17
Feb
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2017 Brings Optimism for Residential Real Estate Prospects

2017 Brings Optimism for Residential Real Estate Prospects

2017 Brings Optimism for Residential Real Estate Prospects

Real estate professionals are as busy as ever and optimistic about the immediate future. According to the West Penn Multi-List, Inc. and its monthly residential real estate report, both home sales and sale prices were up in 2016, and are poised to continue in that direction into 2017 as well.

"With lower unemployment rates and improved wages, we continue to be optimistic about the 2017 housing market," said Ron Croushore, current president of West Penn Multi-List, Inc., and owner and CEO of Berkshire Hathaway HomeServices The Preferred Realty, Pittsburgh.

Most of the months of 2016 offered similar monthly housing market highlights, resulting in positive statistics for 2016 as a whole, as compared to 2015:

Closed sales are up 4.88 percent (27,974 units in 2016 versus 26,673 in 2015);

Closed sales volume is up 3.65 percent ($4,689,032,331 in 2016 versus $4,523,965,417 in 2015);

Fri
17
Feb
The Editors's picture

Home Values Rise 7 Percent in 2016

Home Values Rise 7 Percent in 2016

Home Values Rise 7 Percent in 2016

The median home value in the U.S. is now $193,800, according to Zillow's December Real Estate Market Reports. Rents grew 1.5 percent annually to a $1,403 median monthly payment.

Home values rose 6.8 percent from last December, the fastest annual pace of the year. The Zillow® Home Value Indexi (ZHVI) is $193,800, just below the highest value set in April 2007, according to the December Zillow Real Estate Market Reportsii.

Home value appreciation slowed slightly in Portland, but remains the fastest in the nation, up 13.8 percent from last December. Tampa, Seattle and Dallas saw similarly high home value growth, with home values growing nearly 12 percent from a year ago.

Fri
17
Feb
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Home Buyers in Expensive Markets See a Longer Wait to Break Even

Home Buyers in Expensive Markets See a Longer Wait to Break Even

It takes at least 1.5 years longer to break even on buying a home than it did a year ago

Home value appreciation is expected to slow in some of the nation's most expensive markets, and as a result, it now takes longer to break even on a home in those markets compared to renting it. Nationally, buying a home becomes a better financial decision than renting it in just under two years, according to the Q4 2016 Zillow® Breakeven Horizoni.

Tue
14
Feb
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Portland, Denver Companies Win Multifamily, Commercial Wood Design Awards

Portland, Denver companies win wood design award for multifamily and commercial buildings

Portland and Denver companies have won top national awards from the Wood Products Council for multifamily and commercial wood design buildings in Portland and Denver, according to a release.

The winners of the 2017 Wood Design Awards, which celebrate excellence in wood building design across the U.S., were chosen by an independent jury in nine national categories, the winning projects exemplify attributes of wood such as beauty, strength, versatility and sustainability, according to the release.

 

The Denver Winner Multifamily Wood Design

 “This year’s winning projects are interesting in part for what they say about the state of wood building design,” WoodWorks Executive Director, Jennifer Cover, said in the release.

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