Builder sentiment improves after election
Builder sentiment improved for the third straight month and builders expect market conditions will continue to improve with Republicans winning control of the White House and Congress. Builder confidence in the market for newly built...
Multifamily CMBS special servicing rate higher in October
Trepp reported that special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans moved higher for the third month in a row in October, rising another 14 basis points. The overall CMBS special servicing...
Which multifamily market will see the highest rent growth in 2025?
Moody’s Analytics associate director and economist Nick Villa gazes into his crystal ball to determine which markets will see the highest apartment rent growth in 2025.He leans on Moody’s Q3 2024 Preliminary...
Construction materials prices rise in October
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 October on a seasonally adjusted basis. However, the change in construction...
Requiem for sustainability?
As a practitioner of sustainability in multifamily, sometimes I hear things that crack me up. My all-time favorite was an article about a town in North Carolina which moved to ban solar because it...
Multifamily mortgage originations rise and return to seasonal pattern
A report from the Mortgage Bankers’ Association (MBA) says that multifamily mortgage originations were up 56 percent year-over-year in Q3. Originations of all commercial mortgages as a single asset class rose 59 percent year-over-year. Commercial...
Rent growth continues seasonal downturn in October
Yardi Matrix reported that the national average asking apartment rent was down $3 in October compared to the revised level of the month before at $1,748 per month. The national average year-over-year asking apartment rent...
Multifamily CMBS delinquency rate declines in October
Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans fell in October, breaking a string of 5 consecutive monthly increases. However, the overall CMBS delinquency rate continued to rise, climbing 28...
Multifamily scores ballot winners and losers
The USA is preparing to swear in President-elect Donald J. Trump as its 47th president, or what some housing experts call the return of the nation’s builder-in-chief. Housing was a major focus...
New multifamily research project launches: EVENT HORIZON
AI is changing the world right before our eyes. Already in wide use by federal agencies, banks and insurance providers, AI is adding value to industries across the board. Need an example? When was the...
Multifamily developer sentiment subdued despite positive occupancy
Confidence in the market for new multifamily housing showed mixed results year-over-year in the third quarter, according to results from the Multifamily Market Survey (MMS) released November 7 by the National Association of Home...
Rent control fails (again) in California
Proposition 33, the latest attempt to open the door to rent control in California, went down to defeat Tuesday. It was supported by only 38.4 percent of the voters compared to the 61.6 percent...
Winter is coming
It is that time of year again! I know that some individuals are focusing on politics this week. This is understandable, but it is important for us to also focus on a critical aspect...
Multifamily construction spending continues to fall
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in September was down 0.10 percent from the revised level of the month before. Spending on...
Employment growth disappoints in October
The Employment Situation Report from the Bureau of Labor Statistics stated that overall employment growth collapsed in October. In addition, last month’s employment level was revised lower in this month’s report, so total employment...
