Fed lowers benchmark interest rate
The economic projections released by the Federal Open Market Committee (FOMC) after this week’s meeting indicate that they expect higher GDP growth ahead than in last their forecast. They left their forecasts for the...
Multifamily starts lower but completions surge in August
The Census Bureau’s report on new residential construction stated that multifamily permits fell again in August. Multifamily starts were down sharply from the high level reported last month while a big increase was reported...
Multifamily CMBS special servicing rate higher in August despite overall drop
Trepp reported that the special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans rose in August, although it remains below its level of last December. However, the overall CMBS special servicing rate on...
Commercial mortgage delinquency rates continue higher
The Mortgage Bankers Association (MBA) reported that delinquency rates rose in Q2 for commercial and multifamily mortgages issued by 4 of the 5 classes of lenders they track.
Distress definitions differ
The MBA report is issued...
Rental concessions rise in August
Rental concessions rise again in August while Texas markets dominate discounts.
As new apartment supply continues in select markets, but is expected to peak later this year, rental concessions have become a crucial...
The shifting landscape of rental housing: Single-family rentals vs. multifamily
For decades, when we thought of "rental housing," our minds went straight to apartment complexes. Towering buildings with dozens or even hundreds of units, managed by large corporations. But a quiet revolution has been...
Construction materials prices rise as steel rolls higher
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices rose 0.3 percent month-over-month in August on a seasonally adjusted basis. The intermediate demand index of...
Biennial online renter study shows evolving renter behavior
The multifamily housing industry is witnessing a fundamental shift in how prospective renters discover, evaluate, and choose their living spaces. The 2025 Biennial Online Renter Study by SatisFacts reveals a marketplace where traditional marketing...
Smaller metros increase share of multifamily permits in Q2
The National Association of Home Builders (NAHB) recently released its Home Builders Geography Index (HBGI) report for Q2 2025. It does not look at absolute numbers of permits issued but rather looks at what...
Weak overall employment growth reported for August
The Employment Situation Report from the Bureau of Labor Statistics (BLS) stated overall employment growth slowed in August. The employment levels for the 4 multifamily-related jobs categories that we track were all lower than...
Water you doing with your billing?
I like using the full gamut of the English language, but not always correctly. One of my favorite things to say (and I think a handful of you have heard me say it) is...
New study: the unintended consequences of tenant protection
New research suggests that unintended consequences of tenant protection laws may be hurting the very population they are meant to protect.
These laws are designed to shield renters from discrimination, eviction and screening...
Construction job openings higher despite overall fall
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of total non-farm job openings in July fell to 7.18 million. Hiring in July was...
CoStar: multifamily property prices move lower in July
CoStar reported that its value-weighted index of multifamily property prices fell month-over-month in July, dropping 1.36 percent. This index was up 3.11 percent year-over-year.
By contrast, MSCI Real Capital Analytics reported that multifamily property prices...
Yardi Matrix: Rent growth turns negative in August
Yardi Matrix reported that the national average asking apartment rent fell $1 in August compared to the revised level of the month before to $1,755 per month. The national average year-over-year asking apartment rent growth was...
