US – Top 10 Wage Soaring Cities

October 26, 2013

The average wage of a U.S. worker was $1,000 per week in the fourth quarter of 2012, or 4.7% higher from the same time in 2011, according to the Bureau of Labor Statistics (BLS). In some areas, pay rose than 10%.

In other cities, however, there appears to be a single industry that is behind the significant change in the average wages. For example, in Midland and Odessa, Tex., and Cheyenne, Wyo., wages likely increased because of strong growth in the oil industry. In the two Texas cities, the mining, logging and construction industry, which includes oil-related employment, jobs grew by roughly 15% in each.

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US – Single-Family Rental Market Trying to Prove It’s Sustainable

October 25, 2013

The recent initial public offering by real estate investment trust American Homes 4 Rent, which captured $706 million, raises more questions than answers about the long-term viability of the single-family rental home market.

Even the Federal Housing Finance Agency—whose Real Estate Owned Pilot Initiative, launched two years ago, has transferred 1,763 REO properties to new owners—seems ambivalent about future demand. 

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US – The Best and Worst Rent Growth Markets 2013

October 25, 2013

Two of the nation’s largest states have seen the largest rent growth over the last year.

Three major metros in California, and three in Texas, dominate the rankings of the Top 10 rent growth markets so far this year, according to Carrollton, Texas-based MPF Research.

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US Top 10 Metros for Healthy Housing

October 25, 2013

Physical conditions of housing units have declined since the last census in 2009, and the 2013 State of Healthy Housing report from the National Center for Healthy Housing reveals that a shocking 40 percent—or 35 million—of the nation’s metropolitan homes have at least one health or safety hazard.

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US Apartment – Competition to Attract and Retain Tenants

October 25, 2013

Duncan was one of about 100 multifamily finance professionals who responded to Apartment Finance Today’s annual CFO Survey.

“I think we’re keeping our eye on certain markets as the supply really starts to deliver into the market during the second half of this year and how that will impact our traction to raise rents,” he said.

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2013 September Great Vancouver Stats

October 25, 2013

Home buyer and seller activity in the Greater Vancouver housing market continues to far outpace 2012, yet is in line with the region’s 10-year averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,483 on the Multiple Listing Service® (MLS®) in September 2013. This represents a 63.8 per cent increase compared to the 1,516 sales recorded in September 2012, and a 1.2 per cent decline compared to the 2,514 sales in August 2013.

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US Commercial Market – Appreciation from Cap Rate Compression

June 28, 2013

CoStar’s Property and Portfolio Research (PPR) division is forecasting that the wave of cap rate compression that has in some cases accounted for an astronomical 90% of the gain in core real estate value since the last recession is likely to slow.  Specifically, PPR’s analysis of the top 54 U.S. markets finds that cap rates should remain within 20 basis points of today’s average through 2017, which will reduce the rate of real estate price growth relative to the recent past.

This is significant because transaction pricing tends to be an early indicator of appraisal pricing, and the last time transaction-pricing growth fell below appraisal trends was at the start of the recent recession, in the second half of 2007.

earlyin

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