Apartment watch

Things to watch, what to know, in your apartment operation

job openings hiring

Job openings trend lower in October

The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings fell to 10.33 million in October. In addition, last month’s job openings...

Rent delinquencies nearly unchanged in Pulse Survey

The “Week 51” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments fell slightly to 13.7 percent, down from the 14.0 percent reported...
criminal background checks

Criminal background checks out in NYC?

A measure called the Fair Chance for Housing Act is under consideration by the New York City Council. It would ban the use of using criminal background checks to screen residents in most cases....
fannie mae multifamily housing forecast

Fannie Mae sees bigger housing slowdown coming

Fannie Mae’s November economic and housing forecasts predict that both multifamily and single-family housing starts will fall next year by more than they previously expected. The November forecast is the first from Fannie Mae to...

Multifamily property prices fall in October

The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 0.6 percent in October from their level of the month before. Prices were still up 11.3 percent...
apartment construction

Multifamily housing construction activity falls slightly in October

The Census Bureau’s new residential construction report for October recorded slight declines in multifamily housing construction permits, starts and completions. However, none of the declines was more than 5 percent from the levels of...

Multifamily developer confidence declines significantly in the Third Quarter

The prospects for continued high levels of multifamily development declined significantly in the third quarter, as did the prospects for continued high occupancy rates, according to results from the Multifamily Market Survey (MMS) released...

Single-family housing contraction continues in October

Elevated mortgage rates, high construction costs for concrete and other building materials and weakening demand stemming from deteriorating affordability conditions continue to act as a drag on single-family housing production. Overall housing starts decreased 4.2...
gen z

Understanding Gen Z

A new survey from Freddie Mac examines the attitudes of Gen Z about money, renting and home ownership. The survey questioned 1739 people aged from 14 through 25, 72 percent of whom are still living...
office building adaptive reuse

Sizing up adaptive reuse

A new report by RentCafe looks at the recent growth in the number of new apartments being created through the adaptive reuse of existing buildings. Adaptive reuse is often mentioned as one approach to...
construction material price aluminum wire

Construction materials prices fall in October

The October producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices fell 0.4 percent in the month, seasonally adjusted, matching last month’s decline. However, the index...
FHFA announces multifamily loan purchase caps

2023 GSE multifamily loan purchase caps set

The Federal Housing Finance Agency (FHFA) announced that the 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $75 billion for each Enterprise, for a combined total of...
Indianapolis leads in rent growth

Rent growth resumes in October

Yardi Matrix reported that national average apartment rent growth turned positive in October with rents increasing $3 from September’s revised level to $1,727 per month. YoY rent growth rate slide continues The national average asking apartment...

Housing affordability falls to more than 10-year low as rising interest rates take a...

Housing affordability fell to its lowest level since the National Association of Home Builders (NAHB) began tracking it on a consistent basis in 2012 as rising mortgage rates, ongoing building material supply chain disruptions,...
commercial mortgage

Multifamily mortgage originations underperform in Q3

A report from the Mortgage Bankers’ Association (MBA) says that originations of multifamily mortgages in Q3 were down 16 percent on a year-over-year basis. Originations of all commercial mortgages as a single asset class...
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