Employment Picture
For unemployment, the most significant decrease was in the installation, maintenance and repair occupations with 30 percent, followed by professional and related (-22.9 percent) and office and administrative support (-18.3 percent).
National Vacancies
Vacancy rates decreased year-over-year in all the regions, with the largest change occurring in the Northeast, which fell from 6 percent in the fourth quarter of 2015 to 5.3 percent in the fourth quarter of 2016.
CMBS Delinquencies
Delinquencies continue to drop year-over-year from March 2016 to March 2017. Multifamily delinquencies had the largest decline of 46.1 percent or $392 million.
Investment Sales
CBD and suburban office represented 31 percent of the total transaction volume, and mid- and high-rise and garden apartments represented 33 percent in the past year.
REIT Values
Among the REITs focused on manufactured homes, Sun Communities, Inc. had the highest multiple of 24.9x, and finished March 31 with an $80.3 price per share.
Top 5 Retail Space and Office Building Sales
PropertyShark compiled the top 5 sales in office and retail for March 2017 in New York City.
Specialty REITs Top Capital Raising
Publicly traded U.S. REITs raised some $23.4 billion through capital offerings in the first three months of 2017, with senior debt offerings making up the majority of the capital raises.
Salt Lake’s Mountainous Rise
Utah’s largest city is in the midst of a boom—driven by robust employment and population growth that’s producing healthy demand for housing, Yardi Matrix data shows.
Houston’s Shaky Economy
According to Yardi Matrix, very low rent growth and an occupancy rate that lags the national average will result in slow absorption of the 18,700 apartments added in 2016.
Yardi Matrix: Dominating Dallas
Hitting new cyclical peaks across most metrics, DFW continues to be one of the strongest multifamily markets in the U.S.
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