When it comes to protection, few features are as important as the roof above your head. Your roof is much more than just a hat for your house - it keeps outside elements like rain, sleet, snow, and wind outside so you and your family can stay comfortable and dry inside. A properly maintained roof also helps protect your home's structural integrity, keeps critters out, and insulates your home during cold months. With all that said, it's easy to see why your roof plays such a crucial role in your everyday life. That's why, when your roof needs maintenance or replacement, you need to work with experienced, trustworthy roofers in Johns Island, SC.
Hixon's Roofing has been Johns Island's go-to contractor for new roof installations and repairs for nearly three decades. As locals in the Johns Island community, we pride ourselves on honesty, hard work, and being a business that you can count on consistently. There's no secret as to why our company is successful. The bottom line is that we do right by our customers and treat them the way we would like our own family to be treated. That's why, when you hire Hixon's Roofing, you'll be greeted with a warm smile and provided the highest quality roofing services in South Carolina.
When you work with Hixon's Roofing, you're not working with a mediocre roofing company in Johns Island. You're working with a team of experts who are fully insured, bonded, and licensed for your peace of mind. If you're looking for the best service and the best products in the roofing industry, look no further than Hixon's Roofing.
There's a reason why Hixon's Roofing is considered the best roofing company in South Carolina. Instead of talking about why it would be our pleasure to show you in person. Whether your residential roof needs inspecting or your commercial structure needs a replacement, we're here to serve you.
Hixon's has seen and done it all when it comes to residential roofing services in South Carolina. Whether you own a small, secluded ranch-style home or a sprawling mansion in the suburbs, we have the expertise and tools to accommodate any job. Do you need a small leak fixed on your asphalt roof? No problem, we've got you covered. Are you in need of a brand-new roof built from scratch? We can help you with that, too. At Hixon' Roofing, we pride ourselves on combining top-notch roofing services with family values. Trust, honesty, and hard work mean a lot to us. We treat your home and yard just like we would treat our own. If we create trash or debris in your yard, we clean it up. It all goes back to treating our customers how we would like to be treated - something that Hixon's has been doing since 1984.
What types of residential roofing services do we offer in Johns Island? Here are some of our most common job requests:
Our team specializes in all forms of roof repair, from minor leaks to major structural issues.
We will build you a new roof from scratch, using high-quality materials. If you have a vision, we can make it a reality.
Depending on your needs, we can remove your old roof and install a new roof on your home.
We will replace your old, worn-out shingles, metals, and other roofing materials.
We provide quality craftsmanship and products because we believe in what we do. We want happy customers who refer their friends and family. You may not see flashy internet ads everywhere for our company, but that's by design. Our word-of-mouth referrals are so frequent and far-reaching that we don't need to pay for ad spots. We would rather invest that money into the best tools and most knowledgeable roofing experts available. That way, we can better serve our customers.
Because, at the end of the day, your satisfaction is our #1 priority.
Your home's roof is exposed to the elements 24-hours a day, 7-days a week. As a homeowner, you probably do your best to keep your roof in good condition with regular maintenance and inspections. However, even properly maintained roofs can be damaged without notice. Mother Nature has her own set of rules, and when she chooses to unleash her power on your roof, there isn't too much you can do.
If your roof is leaking, growing moss, or your shingles are cracked, it's time to call the pros. You need contractors that are efficient, effective, and on-time. That's where Hixon's Roofing comes in.
Hixon's Roofing will provide quality roofing repairs for homes and businesses with all types of roofs. Whether you have a small, single-story home with a minor leak or a sprawling estate with multiple roofing issues, Hixon's will get your roof back to new in no time. It doesn't matter if we installed your roof or not, Hixon's will provide top-notch customer service and the highest quality roofing repairs in Johns Island.
While some situations like downed trees require obvious roof repair, it's not always clear when your roof needs some TLC. Keep these common signs in mind the next time you do a visual inspection of your roof:
If the shingles on your roof are cracked or curling, you can safely assume that they are nearing the end of their lifespan. If you notice shingles missing, it's an obvious sign that your roof needs some repair.
Asphalt and composite shingles will shed granules over time, especially when they're starting to wear out. Often, these granules find their way into your gutter system. When you're cleaning your gutters this quarter, keep an eye out for this course, black grit. It's a telltale sign that your roof may need attention or repair.
It's a good idea for every homeowner to check their attics for signs of leaks and general disrepair. While you're up there, look at the ceiling in your attic. If you notice the rafters or decking is sagging towards the ground, you could have a serious problem on your hands caused by a leak. If your roof deck is sagging, call Hixon's as soon as possible for an inspection. If the damage is localized, you can often avoid a full roof replacement.
The flashing around your chimney, skylight, and attic vents is a seal that keeps rain and other elements outside of your home. However, with time, flashing can crack or even break, which will lead to a leak in your home. This is most common in older homes that have flashing made of tar or cement. For many homeowners, the prospect of climbing up on a roof to check flashing isn't an option. In that case, you should call a team of professional roofers to inspect for you.
Moss can add some charming character to your home, but in most cases, if you see moss growth, it means trouble. Moss (like fungi and mold) indicates that there could be moisture trapped in your roof's structure. When left untreated, this moisture can ruin your roof. You can get rid of the moss by using a stiff brush to wipe it away but be sure you address any underlying problems as well.
As a full-service roofing company, our team of expert roofers has installed hundreds of new roofs in South Carolina. Whether you need a metal roof for your secluded home in the woods or a new roof for your commercial business, we're here to make the installation process easy and streamlined.
It all starts when you call our office for a free estimate. We'll take all the time you need to go over your new roof installation options to customize the structure and style to your needs. Once we have defined the project's details, our roof installation professionals will get to work on your home or business. Unlike some roofing companies in Johns Island, Hixon's is transparent about every step of the installation process. We keep our clients informed at all times and are happy to provide updates as we make progress on your new roof. While we are installing your new roof, we treat your home or business like our own. You can always count on friendly interactions and a clean and tidy work area. After your new roof is installed, we'll clean up behind ourselves so it's like we were never there.
When you hire Hixon's Roofing to install a roof on your home or business, know that we only use the highest-quality materials and the best construction techniques available. That way, you'll have a fantastic-looking roof that will last for decades. On top of our unmatched workmanship, clients also receive a 10-year labor warranty on architectural shingles and a 5-year labor warranty on three-tab and metal roofs.
Residential and commercial roofing are similar in that they both require experienced contractors to perform quality work. However, unlike residential roofing (a more straightforward process), commercial roofing projects can be complicated and lengthy. In our experience, there can be dozens of factors to be considered to complete the job correctly. Commercial roofing contractors in Johns Island, SC, must account for rooftop HVAC systems, external piping, external utilities, and more. Because commercial roofing structures typically have many layers, it's more difficult to find and remediate leaks. As such, our commercial roofing contractors have different skillsets than residential roofing pros.
Like the residential side of our business, we have completed hundreds of commercial roofing projects in South Carolina. We know exactly what it takes to repair, install, or inspect a commercial roof. When businesses in South Carolina need roofing work, they come to Hixon's Roofing because they know that we will get the job done right the first time. They know that our team is dependable, friendly, and highly qualified to accomplish any commercial roofing project. We're talking roof repairs for small offices to new roof installations on huge, multi-building industrial complexes.
If you're starting a commercial roofing project, don't settle for mediocre roofing contractors. After all, a commercial roofing project can be a huge investment, and you need to get your money's worth. Hixon's is here to exceed your expectations and take on any commercial roofing needs you may have, whether they're minor fixes or major roofing replacements.
At Hixon's Roofing, we make it difficult for any other roofing company to compete with our helpful and professional services. For more information about our company and what we can do for your home or business, contact our office in Johns Island. Our customer service reps have the knowledge and information to answer your questions and get the ball rolling on your roofing project in South Carolina today.Contact Us
THIS WEEK The University of Iowa women’s golf team hits the road for Spring Break to compete at the Briar’s Creek Invitational from March 13-14 in Johns Island, South Carolina. The 54-hole tournament will be played at the Golf Club at Briars Creek with a 36-hole shotgun start on Monday followed by the final 18 holes on Tuesday.FOLLOW LIVE Fans can follow the tournament via live scoring at www.Golfstat.com.THE LINEUP The Hawkeyes will send six golfers to South Caroli...
THIS WEEK The University of Iowa women’s golf team hits the road for Spring Break to compete at the Briar’s Creek Invitational from March 13-14 in Johns Island, South Carolina. The 54-hole tournament will be played at the Golf Club at Briars Creek with a 36-hole shotgun start on Monday followed by the final 18 holes on Tuesday.
FOLLOW LIVE Fans can follow the tournament via live scoring at www.Golfstat.com.
THE LINEUP The Hawkeyes will send six golfers to South Carolina for the tournament. Iowa’s lineup will include freshman Riley Lewis, freshman Shannyn Vogler, freshman Madison Dabagia, sophomore Paula Miranda and freshman Kaitlyn Hanna. Senior Jordan Amelon will be competing as an individual.
THE FIELD Iowa will compete against a field of 15 teams that includes: Boston College, Campbell, Central Florida, East Carolina, Illinois, Iowa, Maryland, Miami, NC State, Nebraska, North Florida, Old Dominion, Penn State, Rutgers and Southern Methodist. • Four teams in the field — UCF (20), SMU (30), Maryland (35) and Nebraska (36) — are ranked in the top 36 nationally in the Golfstat rankings.
THE COURSE The Briar’s Creek Golf Club is located on Johns Island, south of Charleston. The course was rated the 25th best course in South Carolina and has received a five-star rating . The course sits along the Kiawah River and features wandering rivers, marshes and saltwater estuaries. The featured hole of the course is the 447-yard 16th hole that is covered in bunkers and towering oak trees. The course was designed by Rees Jones in 1989, Jones has left his mark on several PGA championship courses.
LAST TIME OUT The Hawkeyes tied for 10th at the UNF Collegiate in Florida. Iowa fired a 290 second round score — the team’s third-best round of the season — and totaled a 890 for the tournament. • Freshman Riley Lewis led the team, firing a 218 total (74-67-77) to tie for 13th-place. The second round 67 was the best of the Illinois native’s career and is tied for second for the lowest 18-hole score in school history.
LEWIS NAMED BIG TEN GOLFER OF THE WEEK Riley Lewis earned her first career Big Ten Women’s Golfer of the Week honor after tying for 13th place at the UNF Collegiate on March 6-7. The Illinois native fired a second-round 67 — the second lowest round in school history — courtesy of four birdies and two eagles.
THEY’RE FRESHMAN • Freshman Riley Lewis has posted back-to-back two-over par 218’s in Iowa’s last two tournaments, tying for 29th at the Westbrook Invitational and a career-best 13th place showing at the UNF Collegiate. Lewis leads the team with a 74.44 scoring average over 18 rounds this season and has a team-high two top 20 finishes. • Freshman Madison Dabagia had Iowa’s top finish of the season when she tied for eighth place at the Tulane Classic. Dabagia has a 75.61 scoring average over 20.5 round, ranking third on the team. The Indiana native has led the team in two of three tournaments this spring. • Freshman Shannyn Vogler is second on the team with a 75.51 scoring average over 20.5 rounds. She has one top 20 finish and three rounds at or below par this season.
LOOKING AHEAD The Hawkeyes will have a week off before heading to the West Coast on March 26-27 for the Fresno State Classic in Fresno, California.
JAMES ISLAND – Tucked away in an overgrown forest blanketed in draping Spanish moss, The May Forest Convent will soon become the centerpiece of a new state park.From the outside, the single-story beige building could be anything, but this was where Sisters of Charity of Our Lady of Mercy lived and spent their lives in service to their faith on the edge of Charleston Harbor with a panoramic view of the city.Much of the religious artifacts have been removed but the tall stained-glass windows forged in the 1800s and vaulted ...
JAMES ISLAND – Tucked away in an overgrown forest blanketed in draping Spanish moss, The May Forest Convent will soon become the centerpiece of a new state park.
From the outside, the single-story beige building could be anything, but this was where Sisters of Charity of Our Lady of Mercy lived and spent their lives in service to their faith on the edge of Charleston Harbor with a panoramic view of the city.
Much of the religious artifacts have been removed but the tall stained-glass windows forged in the 1800s and vaulted point of the chapel are the only giveaways to its former life.
Soon, it will serve a new purpose as an event venue.
Every day, the sisters would start their mornings together in prayer as the sunrise shined through the chapel’s stained-glass windows. They spent most of their days volunteering in the community, caring for their eldest sisters and spending time with one-another during mass, meals and free time.
Sister Mary Joseph, general superior of the Sisters of Charity of Our Lady of Mercy, made her vows in 1960 after graduating from high school. Now 80, she said many of her favorite memories throughout those 63 years of service are the times spent with sisters in their chapel after taking the vow “of commitment to the church and in service of God’s people.”
The Sisters of Charity congregation of nuns dates back nearly two centuries in Charleston. The group ran a school for free children of color in the 1840s, cared for both Union and Confederate wounded soldiers during the Civil War, founded the hospital that would evolve into the Roper St. Francis Healthcare system and ran social service organizations that helped those facing poverty.
As the congregation aged and fewer women joined the ranks, a decision was made to relocate its surviving members to the Bishop Gadsden retirement home and sell the property. The once sacred place of prayer is just a place of peace now, nestled along the waterfront. It sits empty, but the state has big plans for the site.
The 23-acre waterfront parcel was bought by the state in 2021 for $23.25 million. Located at the end of Fort Johnson Road, the convent was built in the 1950s.
The waterfront property offers a one-of-a-kind view that can only otherwise be seen from a boat in the harbor, complete with views of downtown Charleston, Fort Sumter, and the Arthur Ravenel Jr. Bridge. The waves gently grace the shore, offering a soothing sound in tune with the rustling trees.
Despite having a cash offer from a developer, the Catholic Church worked with the state to preserve the property. Many had hoped it would become a park to keep that rare view from being privatized. It’s a promise the state intends to keep.
The property is owned by the S.C. Department of Natural Resources, which runs the marine lab next door, and is managed by the Department of Parks, Recreation and Tourism.
“Unless you were a sister or visiting priest, chances are you didn’t know that this was tucked away back here,” said agency Director Duane Parrish. “This is a rare opportunity here. We envision the building to become a space for people to stay or to enjoy events like weddings, and for the property to become a place where people can relax along the harbor-front in a peaceful park setting.”
The venue will be similar to Charles Towne Landing, he added.
Director of State Parks Paul McCormack envisions the rental space will include overnight accommodations as well as a chapel area, a rental hall and dining offerings, and the scenic view will be a “prime wedding location along the harbor.”
“It may not look like it now but there’s no doubt about it, this would be a unique event space,” McCormack said. “To be right on the water outside of downtown and to have this view, it’s one of a kind.”
As it stands, the convent main building has 27 rooms, a chapel that seats 60 and a large open meeting space that can seat 125. Once updates are completed, they expect around 15-20 rooms. They also hope to add a dock along the water to complement the existing gazebo and bench swing.
McCormack said the biggest challenge is the convent is not turnkey and ready to rent out.
The property is undergoing evaluation as part of a master planning process that will map out the next 20 years for the entire Fort Johnson pointe, the area surrounding that part of James Island. The building needs to be reviewed by architects and engineers to see what the price tag will be to renovate.
“This was a treasured place of religion, which is evident by the chapel and other markers,” Parish said. “We want to acknowledge and honor its 70-year history as a convent, yet modernize it for future generations to cherish. It’s location along the harbor makes it the perfect place for weddings and events.”
The property was most recently used as a film set for the Netflix flick “Suncoast,” featuring Woody Harrelson and Laura Linney. A faux digital stained-glass window featured in the film still sits in the chapel as a centerpiece over the former altar.
This business model is a new approach to helping the department become more self-sustaining, Parrish said. Eventually, money made from renting the convent’s rooms and event space will go back into upkeep and renovations.
The undertaking is expected to have an architectural design in place by sometime in 2024. Parrish said his office has requested about $10 million in assistance from lawmakers, on top of the $5 million received last year.
While the future state park on the site has not been officially named, it is likely to be May Forest at Fort Johnson State Park. It’s a nod to the convent and the area’s rich history — the point at the end of Fort Johnson Road is where the first shots of the Civil War were fired on Fort Sumter.
When the property was bought by the Catholic Church, the sisters raised money to clear the land and build their new home. The building housed sisters and new members joining the religious community who needed to be trained.
Sister Mary Joseph said that as times changed, the needs of the sisters did too. Much of the building was renovated after Hurricane Hugo. By that time fewer sisters were joining and existing members needed somewhere to age in place. A great hall was added to become the “center of spirituality” and more rooms for the aging and semiretired sisters were built, as well as a medical wing for those needing more intense medical care.
Now, the Sisters of Charity of Our Lady of Mercy are only 12 members strong. While the decision to sell their home was a difficult one, Sister Mary Joseph said their top priority was ensuring their members were taken care of. It came down to knowing their financial and health care needs were too great.
“The sale of the property allowed us to move to Bishop Gadsden, which allowed us to provide continuing health care at different levels for our sisters,” Sister Mary Joseph said. “There is a strong sense of community at Bishop Gadsden. Our sisters there, who are able, can continue practicing their faith and provide ministry to other residents. It’s been life-giving in that sense for the sisters.”
Sister Mary Joseph said that the sisters’ faith, ministry and charity are gifts that they “continue to share wherever we are.”
A collection of artifacts and history panels are displayed in a room within the convent, which has been called the “Heritage Room.”
The state will soon open the former convent’s grounds for individuals looking to picnic or roam the property of the former convent.
“I’m so proud that our state stepped in to protect this property and its history by ensuring it’s accessible to everyone,” McCormack said. “The opportunities we have before us with this project are endless.”
JAMES ISLAND, S.C. (WCIV) — The Lowcountry Cajun Festival will return at James Island County Park on April 22 from noon to 6 p.m.New for 2023, festival admission will be charged per vehicle, and tickets are available for advance purchase, according to a Feb. 23 press release. A limited number of vehicles will be admitted. Tickets will be $35 per standard vehicle of up to 15 people in advance. If available, tickets at the gate will be $40 per vehicle. For additional details and to purchase tickets, visit ...
JAMES ISLAND, S.C. (WCIV) — The Lowcountry Cajun Festival will return at James Island County Park on April 22 from noon to 6 p.m.
New for 2023, festival admission will be charged per vehicle, and tickets are available for advance purchase, according to a Feb. 23 press release. A limited number of vehicles will be admitted. Tickets will be $35 per standard vehicle of up to 15 people in advance. If available, tickets at the gate will be $40 per vehicle. For additional details and to purchase tickets, visit CharlestonCountyParks.com.
Gold Passes will be valid for vehicle admission; the pass must be presented at the gate for entry. Gold Passes will not be sold on site the day of the festival, but may be purchased in advance online. Receipt of purchase will not be accepted, according to the press release.
Read more: Lowcountry Cajun Festival returns to James Island County Park on Saturday
According to the press release, the 2023 Lowcountry Cajun Festival entertainment lineup is Shrimp City Slim Swamp All-Stars from 1 p.m. to 2 p.m., Les Freres Michot from 2:30 p.m. to 4 p.m., and Corey Arceneaux & The Zydeco Hot Peppers from 4:30 p.m. to 6 p.m.
The festival's small stage will host Friends of Coastal South Carolina for a program called “Who Calls the Swamp Home?” at 1 p.m. and the annual Crawfish Eating Contest will take place at 2:30 p.m., according to the press release. Other festivities include a crafters' market, souvenirs for sale and a kids' area.
Read more: Lowcountry Cajun Festival
Children can enjoy access to the inflatables and climbing wall in the kids' area all day with the purchase of a $10 hand stamp. Credit cards will be accepted at select locations, but attendees are encouraged to bring cash for convenience purposes, according to the press release.
No coolers or outside food or alcohol permitted, according to the press release. Carpooling is highly encouraged. Pets are not permitted to this event. James Island County Park will be closed to regular park guests on April 22 in order to host the festival.
The press release says Lowcountry Cajun Festival is presented by Charleston Animal Society, Coca-Cola and Charleston County Parks. For more information or to purchase tickets, visit CharlestonCountyParks.com or call 843-795-4386.
COLUMBIA, S.C. (WIS) -Thursday a resolution was filed that could begin an impeachment inquiry after a $3.5 billion accounting.Representative Gil Gatch (R-Summerville) filed the resolution directing the South Carolina House Judiciary Committee to begin an inquiry into if South Carolina Comptroller General Richard Eckstrom should be impeached.Eckstrom told the Senate Finance Committee in February that the state’s Annual Comprehensive Financial Reports have overstated how much reserve cash the state had. The error accounted ...
COLUMBIA, S.C. (WIS) -Thursday a resolution was filed that could begin an impeachment inquiry after a $3.5 billion accounting.
Representative Gil Gatch (R-Summerville) filed the resolution directing the South Carolina House Judiciary Committee to begin an inquiry into if South Carolina Comptroller General Richard Eckstrom should be impeached.
Eckstrom told the Senate Finance Committee in February that the state’s Annual Comprehensive Financial Reports have overstated how much reserve cash the state had. The error accounted for $3.5 billion over a ten-year period.
After the error was reported, a dozen Democratic state representatives filed a letter requesting an audit and further inquiry into the error.
Rep. Gil Gatch said, “This is a grave miscarriage of the public trust. If there was ever a reason for which the House should act on our authority to impeach, this rises to the top. At the end of the day, this is a $3.5 billion error, and we must hold the responsible parties accountable.”
Co-sponsors on Thursday’s resolution included Rep. Heather Bauer (D-Columbia) and Rep. Matthew Leber (R-John’s Island). Bauer was among the representatives that filed the earlier audit letter.
Bauer said, “I’ve asked for a full audit, and I got a meeting” She continued,“This has happened before, and he was warned. I’m honestly surprised he hasn’t resigned yet. Where there’s smoke, there’s fire.”
The South Carolina Constitution gives the SC House of Representatives the ability to impeach statewide officials for ‘serious crimes or misconduct in office.’ If the request is approved by two-thirds of the House of Representatives the question of impeachment would head to the South Carolina Senate.
Rep. Gatch said, “South Carolinians deserve better. We must demand transparency and accountability from our elected officials.”
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Cushman & Wakefield announced that the commercial real estate services firm arranged the $16.3 million sale of Forest at Fenwick, an 80-unit multifamily property located in Johns Island, South Carolina.Cushman & Wakefield’s John Phoenix, Richard Gore, and Tyler Fish represented the seller, Southwood Realty/Triangle Real Estate, in the transaction. The multifamily property was acquired in a partnership managed by Rowin Capital and Penny Lane...
Cushman & Wakefield announced that the commercial real estate services firm arranged the $16.3 million sale of Forest at Fenwick, an 80-unit multifamily property located in Johns Island, South Carolina.
Cushman & Wakefield’s John Phoenix, Richard Gore, and Tyler Fish represented the seller, Southwood Realty/Triangle Real Estate, in the transaction. The multifamily property was acquired in a partnership managed by Rowin Capital and Penny Lane Associates.
“We are pleased to enter the Charleston market with the acquisition of Forest at Fenwick,” said Joe Scherban, Managing Director at Rowin Capital. “Forest at Fenwick is an extremely desirable place to live, located just minutes from downtown Charleston but in the quiet elegance of Johns Island.”
Built in 2005, Forest at Fenwick is located on Johns Island, an area that is walkable to restaurants and grocers on Maybank Highway. Residents enjoy state of the art amenities including a swimming pool with sundeck, poolside gas grill, fire-pit, 24-hour fitness center, coffee bar, and screened-in outdoor lounge.
“Forest at Fenwick provided the Buyer a proven value-add opportunity to capitalize on a well-maintained asset in a thriving Charleston submarket,” said Phoenix, Senior Director at Cushman & Wakefield.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 109-person investment sales team covering 11 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2022, the group closed $11.1 billion in sales volume through 360 deals and over 60,300 units.
While the two main confidence indexes for multifamily housing increased slightly in the fourth quarter, they both remained in negative territory, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) increased two points to 34 compared to the previous quarter and the Multifamily Occupancy Index (MOI) increased four points to 49.
The MPI measures builder and developer sentiment about current production conditions in the apartment and condo market on a scale of 0 to 100. The index and all of its components are scaled so that a number below 50 indicates that more respondents report conditions are getting worse than report conditions are improving.
The MPI is a weighted average of three key elements of the multifamily housing market: construction of low-rent units-apartments that are supported by low-income tax credits or other government subsidy programs; market-rate rental units-apartments that are built to be rented at the price the market will hold; and for-sale units—condominiums. The component measuring low-rent units increased five points to 41, the component measuring market rate apartments dropped one point to 38 and the component measuring for-sale units remained even at 23.
The MOI measures the multifamily housing industry’s perception of occupancies in existing apartments. It is a weighted average of current occupancy indexes for class A, B, and C multifamily units, and can vary from 0 to 100, with a break-even point at 50, where lower numbers indicate decreased occupancy. The MOI increased four points to 49, indicating that the market is close to being stable.
“Many developers continue to see strong demand for multifamily housing, but in some markets supply is catching up to demand,” said Lance Swank, president and co-owner of Sterling Group, Inc. in Mishawaka, Ind., and chairman of NAHB’s Multifamily Council. “In most markets, developers face challenges with regulatory costs and delays, and obtaining financing for new construction.”
“It is appropriate that multifamily developers are expressing some caution and that the MPI remains below 50, given the way starts have been outpacing completions,” said NAHB Chief Economist Robert Dietz. “This is also consistent with NAHB’s forecast that multifamily production will slow measurably from the very strong rates it sustained through most of 2022.”
For data tables on the MPI and MOI, visit www.nahb.org/mms.
For more information on the NAHB Multifamily program, please visit NAHB Multifamily.