|By Marketwire .||
|March 12, 2013 06:00 AM EDT|
HOUSTON, TX -- (Marketwire) -- 03/12/13 -- Direct Commercial Funding Inc., a major financier of commercial construction projects, sees firm evidence of a recovery in the apartment and multi-family construction sectors.
Calvin D. Blake, the firm's managing director, cites market trends reported by the National Association of Realtors as well as those in the local Texas marketplace -- as indicators that builders remain enthused about apartment and multi-family construction.
"Most of the new residential rental units coming into the Houston marketplace are being quickly absorbed," says Blake. "We believe this will continue to be a property owner's market here in Houston as well as in other urban areas across the nation."
In their latest commercial real estate forecast the National Association of Realtors reported that the nation's apartment rental market, along with other multifamily housing, are projected to see vacancy rates decline from 4.0 percent in the fourth quarter to 3.9 percent in the fourth quarter of 2013.
According to the Association, vacancy rates below five percent are considered a landlord's market with demand justifying higher rents.
"What we're seeing locally here in Houston exceeds the economic growth rates reported by the National Association of Realtors nationally -- which leads me to believe Houston will continue to enjoy better than average economic conditions in coming months," Blake notes.
"The bottom line is that we're seeing continually increasing interest in loans associated with the residential rental construction market."
About Direct Commercial Funding Inc.
Direct Commercial Funding Inc. is a direct private commercial lender based in Houston. The company delivers customized solutions and a full menu of loan and financing programs for business owners, developers, investors and commercial real estate professionals.
This includes financing investors and owners seeking to purchase, build, or refinance apartment buildings, multi-million dollar apartment complexes, luxury apartment or townhouse communities, or smaller apartment dwellings such as single-building apartments that house only four or five separate families.
For more information on Direct Commercial Funding Inc. and its products and services visit their website at DirectCommercialFunding.com or call 877-239-7933.
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