Interest rates inched up slightly, to 3.02% on a 30-year fixed-rate mortgage, but they are essentially at near-record-low levels. The housing market is hot because of the lower mortgage rates, but the luxury market may remain soft due to jumbo loan issues.
DALLAS, TX – Gardner Capital, a family-owned private equity firm specializing in multifamily housing and renewable energy development and investment, recently completed a $25 million mixed-income multifamily apartment community in southwest Houston. Provision at West Bellfort, a 144-unit gated community created as part of the Hurricane Harvey recovery effort, is located in the Alief neighborhood…
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The evolving economy makes it tricky for property managers to consistently meet occupancy and meet revenue expectations. Digital tenant screening tools can save time and money by improving the application process and decisioning strategies, which benefits applicants and property owners. Establishing digital methods to rate relative risk of your applicants, maintain occupancy, and increase…
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Housing market activity this June jumped 20.7% from May 2020, and June’s sales of existing homes dropped 11.3 % from June 2019.
Each of the four major regions achieved month-over-month growth, with the West experiencing the greatest sales recovery.
EL SEGUNDO, CA – Griffin Capital Company, a leading private alternative asset manager, announced the closing of its fourth land acquisition in a qualified opportunity zone. Legacy at Encore is the second joint venture multifamily community Griffin Capital is developing in partnership with Legacy Partners. Griffin Capital has identified nine multifamily properties partnering with five…
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As an industry, multifamily runs one of the biggest sales teams in the country. This means that we must regularly evaluate our marketing and operations strategies to ensure that we’re investing in our leasing teams’ success in meaningful, technology- and data-driven ways. The key to building a strong sales team in any industry will often…
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HAMILTON, NJ – Total construction starts increased 6% in June to a seasonally adjusted annual rate of $641.4 billion. This marks the second consecutive monthly gain in construction starts following the COVID-19 induced declines in March and April. In June nonresidential building starts gained 6% and starts in the nonbuilding sector moved 27% higher. Residential…
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Recently, we’ve seen several positive signs indicating that the apartment industry had shaken off the worst impact of the pandemic and was headed in the direction of a recovery. Unfortunately, that forward momentum wasn’t present during the seven-day period ending on July 12, according to data from Radix. Traffic and leases were down for a…
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Housing Affordability in May 2020 At the national level, housing affordability showed signs of improvement in May 2020 compared to a year ago but fell compared to April. By: Michael Hyman
