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Freddie Mac Maintains Positive Outlook for Multifamily Market

In its mid-year multifamily outlook for 2013, Freddie Mac notes that multifamily market fundamentals such as rents and vacancies continue to improve, with New York, San Francisco, Denver, Seattle, and Los Angeles all seeing marked growth. At the same time, supply presents a problem, the analysts said. While starts have seen growth over the last several years, completions are still lagging, and the gap between the two measures continues to grow wider.

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Asking Prices Lose Steam in July

Trulia reported a 0.3 percent decline in asking prices from June to July--the first drop since November 2012. While monthly changes can be volatile, Trulia explained the quarter-over-quarter change in asking prices confirms the slowdown, with July asking prices improving just 3.3 percent over the last quarter compared to the peak of 4.2 percent in April. Over the last year, asking prices were still strong, rising 11 percent, though Trulia noted the change won't be as apparent since the annual average is based on a longer time period.

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Realty Pilot Adds to Crew

Realty Pilot, an enterprise software development and data analytics company headquartered in Arizona, expanded its business development and support team with three additional members.

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Index of Improving Markets Drops to 247

The number of markets listed on the National Association of Home Builders' (NAHB) Improving Markets Index (IMI) continued to decline in August, though the index still sits well ahead of where it was last year, the association reported. "While the number of improving housing markets this August remains well ahead of the same month last year, the index is affected by seasonal softening in home prices just as we saw happen in 2012," explained NAHB chief economist David Crowe.

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First-Time Jobless Claims Up, Still Below Expectations

Unemployment

First-time claims for unemployment insurance increased 5,000 to 333,000 for the week ending August 3, the Labor Department reported Thursday. Economists expected the number of claims to drop to climb to 336,000 from the 326,000 originally reported for the week ending July 27. The number of filings for that week was revised to 328,000, the lowest level since early May.

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