UNLOCK THE POWER OF THE VAULT

July Sees Slump In Multifamily Starts

August 23, 2017

July Sees Slump In Multifamily Starts

August 16, 2017 | Paul Bubny | GlobeSt.com

Census Bureau headquarters. (Photo: Skidmore, Owings & Merrill LLP)

 

WASHINGTON, DC—A sharp drop in construction starts for multifamily properties brought groundbreakings overall down by 4.8% during July, according to data released Wednesday by the Census Bureau and the Department of Housing and Urban Development. The 15.3% seasonally adjusted monthly drop in starts for buildings with five or more units continued a deteriorating trend in multifamily construction and compared with a 0.5% decline in single-family starts.

Other metrics in the July residential construction data also pointed to weakness in multifamily. Year-over-year, groundbreakings on apartment properties are off 35.2%.

Permitting for multifamily is also down, although to a lesser extent. Authorizations were off 11.2% from the previous month, while the single-family category was flat compared to June. Again, the decline in multifamily permitting was behind an overall drop of 4.1%.

Read Full Article Here

 

Print Friendly, PDF & Email
Go Back
Loreen M. Gilbert, CIMA, AIF, CRC, CLTC – President, WealthWise Financial Services
Blue Vault
July 6, 2016

Our firm has been using Blue Vault from the first year it was available.

We have found it to be a valuable tool to verify what wholesalers tell us and to dig deep into how the reported investments are really performing.

We appreciate that Blue Vault has expanded its services from initially covering REIT's to now also including BDC's.

Our clients also appreciate that we conduct this additional due diligence on their behalf.