NBN Online for the week of December 4, 2006

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In This Issue:

Front Page
Builders May Have Seen the Worst of Current Downturn
Products, Networking, Education Draw Industry Pros to IBS
Flyer Lists 10 Great Reasons to Buy a Home
Share Nation's Building News With Your Staff. It's Free.
Coast to Coast
Home Builders Gearing Up for 2008
Economics & Finance
Conforming Loan Limits to Remain Unchanged in 2007
Home Price Appreciation Continues Orderly Slowdown
Indianapolis Remains Most Affordable Housing Market
Eye on the Economy: Home Sales Are Stabilizing
Useful Links to Monitor Economic and Housing Trends
Builder's Tip: A Tool to Make Seamless Stucco Patches
Business Management
Use NAHB’s Biztools to Help Manage Taxes, Contractors
Reduce Cycle Time, Increase Profits With Simple Tech Solutions
Confidence in Rental Apartment Market on the Rise
Investor Confidence in Multifamily Market Soars
Enter Pillars, the Best in Multifamily, by Dec. 18
Remodeling Market Strengthens in Third Quarter
Building Systems
Log Homes Council Sells Cookbooks for Cancer Cure
Drywall, Plywood, Shingles Needed in New Orleans
Volunteers Needed to Rebuild Historic Home’s Porch
Advice From Industry Experts: Ramp Up Sales and Marketing
When Money Is Tight, Consumers Shop for Expertise
Education Calendar
Green Building
Apply for Green Building Awards
Energy Award Finalists Head for Builders’ Show
Nationwide Permit Overhaul Needs More Work
Alliance Focuses on Streamlining Overlapping Regulations
Experts Hash Out Top Court’s Wetlands Opinions
Settlement Proposed for Steel Tubing Lawsuit
HBI Addressing Language Barrier for Hispanic Workers
Building Products
Manual Provides Expertise on Residential Asphalt Roofs
NAHB-Produced Programs on HGTV & DIY This Week
Klaiber Named Most Recent Glunt Scholar
Association News
Dell for the Holidays: Double Discounts Through Dec. 31
GM $500 Off Exclusive Offer for NAHB Members
UPS Offers Up to 30% Discount to NAHB Members on Shipping
Play Builders' Free Online Pro Football. Don't Drop the Ball.
Calendar of Events
NAHB Career Center

Related Articles

Investor Confidence in Multifamily Market Soars

Enter Pillars, the Best in Multifamily, by Dec. 18

Confidence in Rental Apartment Market on the Rise

With demand on the rise and supply still tight, builder confidence in current conditions in the rental apartment market jumped in this year’s third quarter, and expectations for the next six months were even higher, according to the latest NAHB/Fannie Mae Multifamily Rental Market Index (MRMI), which was released on Nov. 28.

"Good economic conditions — particularly growth in the job market — are driving demand in the rental apartment market," said NAHB Chief Economist David Seiders. "But the rental market is also benefiting from a tight supply. For-sale condo units have accounted for a large share of multifamily housing starts over the last few years at the same time as a sizable number of apartment units were being converted to condos."

The component of the index tracking current demand rose in the third quarter for all classes of apartments, with moderately priced (Class B) apartments climbing the most — to 66.0, up from 58.5 for the same period a year earlier. Luxury (Class A) apartments were up 7.3 points from a year earlier, standing at 67.3. Class C apartments registered the smallest jump, gaining three points to 61.5.

A level of 50 on the 100-point index generally indicates that the number of positive responses is about the same as the number of negative responses.

Developers also see supply starting to inch up in the rental apartment market. The index tracking supply conditions for the third quarter rose from 53.7 and 54.7, up from 48.0 and 47.8, a year ago, for moderately priced and market-rate rentals, respectively.

When asked about their expectations for the rental market over the next six months, multifamily builders expressed continued optimism, with the index reaching 70.0, 75.0 and 69.2 for Class A, Class B and Class C apartments, respectively. Those expectations were based on a strong volume of calls from prospective renters; this component of the index rose to 61.5 in the third quarter, up from 57.1 for the same quarter of 2005.

In addition, the component gauging effective rents climbed 10 points from a year earlier, to 70.4, although it was down from a record 85.0 for the second quarter.

For more information, e-mail Ann Marie Moriarty at NAHB, or call her at 800-368-5242 x8350.

Save the Date for the Multifamily Pillars of the Industry Conference


Attend the Multifamily Pillars of the Industry Conference, the premier industry event for the multifamily industry, on April 11-13 at the Westin Diplomat Resort and Spa in  Hollywood, Fla.

Visit www.nahb.org/pillars for more information.


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