Multifamily property price decline continues
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 2.7 percent in February from their level of the month before. This was the largest month-over-month decline...
Market conditions begin to improve, though costs and delays remain significant
The March edition of the NMHC Quarterly Survey of Apartment Construction & Development Activity once again found small improvements in terms of more limited price increases, slightly fewer construction delays and some easing in...
Fannie Mae forecasts later recession
Fannie Mae’s March economic and housing forecasts shift the timing of the expected recession to later in 2023 than predicted in recent forecasts. This change in outlook ripples through their forecasts for other economic...
GSEs supply most new multifamily mortgage debt in Q4
A Mortgage Bankers Association (MBA) report shows that the government sponsored entities (GSEs), Fannie Mae and Freddie Mac, accounted for most of the growth in multifamily mortgage debt holdings in Q4 2022. The MBA reported...
New home sales remain relatively flat in February
Higher mortgage rates and home prices, as well as increased construction costs contributed to lackluster new home sales in February, but signs point to improvement later in the year. Sales of newly built, single-family homes...
NMHC, NAA release apartment industry’s 2023 policy priorities
The nation's housing supply imbalance and related affordability issues top the list of 2023 apartment industry policy priorities released by the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA). Specific issues of concern...
Rent control hurts housing supply, new research finds
New research from the National Apartment Association (NAA) highlights the unintended and detrimental consequences of rent control. The research, conducted by NDP Analytics and commissioned by NAA, shows that a staggering 70 percent of...
NAHB releases salary, bonus and benefit data for 39 jobs across the home building...
Throughout the economy and across all sectors, millions of people have quit their jobs looking for better work-life balance, benefits, location or pay—a phenomenon now commonly referred to as the Great Resignation. These challenges...
Response to reinstatement of 2013 version of Disparate Impact Regulation
Statement from the National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC) on the U.S. Department of Housing and Urban Development (HUD) reinstating a 2013 version of disparate impact regulation: “NAA and NMHC...
California rent control – round 3?
A new rent control initiative, titled the Justice for Renters Act, has been cleared by the California Attorney General to begin the process of collecting enough signatures to qualify it for the ballot. Who’s behind...
Multifamily construction activity surges in February
The Census Bureau’s new residential construction report for February reported that the number of multifamily permits, starts and completions were all up significantly for the month. Once again, there were more starts than completions...
Single-family starts remain lackluster, but expected to begin sustained rebound later this year
Single-family production remained at an anemic pace in February as builders continue to wrestle with elevated mortgage rates, high construction costs and tightening credit conditions that threaten to be exacerbated by recent turmoil in...
Senators ask DOJ to investigate revenue management software
Senator Elizabeth Warren (D-Mass.) along with senators Ed Markey (D-Mass.), Tina Smith (D-Minn.) and Bernie Sanders (I-Vt.) have asked the Department of Justice (DOJ) to investigate RealPage’s YieldStar revenue management product for “facilitating de-facto...
Construction materials prices reported flat
The February producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were unchanged in the month, seasonally adjusted. The index of components and materials for construction...
Cap rate expansion likely to continue but may peak later in 2023
Capitalization rate expansion is likely to continue in the short-term for most real estate asset types, but could peak later this year and should decrease in 2024 as the end of the Federal Reserve’s...
