Philadelphia Multifamily Real Estate Selling
Philadelphia Multifamily Real Estate Selling.
I’ve been saying for months that the Philadelphia real estate investors are out in droves based on nothing but purely my own anecdotal research and now it seems the data shows an increased demand for multifamily housing nationally. Makes sense given the economic and employment uncertainty. Why not purchase a multifamily property and have additional units you can rent out to subsidize your mortgage.
Here is the most recent housing starts data for all of the real estate junkies out there:
- Privately-owned housing starts in June were at a seasonally adjusted annual rate of 629,000. This is 14.6 percent (±10 9%) above the revised May estimate of 549,000 and is 16.7 percent (±11.8%) above the June 2010 rate of 539,000.
- Single-family housing starts in June were at a rate of 453,000; this is 9.4 percent (±11.1%)* above the revised May figure of 414,000. The June rate for units in buildings with five units or more (commercial by definition) was 170,000.
- Total housing starts were at 629 thousand (SAAR) in June, up 14.6% from the revised May rate of 549 thousand.
- Single-family starts increased 9.4% to 453 thousand in June.
To search Philadelphia Real Estate listings for condos, homes and apartments click here.
Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
[email protected]
www.CenterCityTeam.com
