Multifamily property prices down in April as transactions plunge
CoStar reported that its value-weighted index of multifamily property prices fell 12.2 percent year-over-year in April. This index was down 1.4 percent month-over-month.
While last month’s report indicated that multifamily property prices had risen in...
Mixed signals in May employment report
The Employment Situation Report from the Bureau of Labor Statistics stated that apartment operations employment and residential construction employment both rose compared to their revised levels from the month before.
Total employment growth continues, or...
California rent control: one measure advances as another fails
California Senate Bill 466 was withdrawn by its author after failing a floor vote. At the same time, a proposed rent control ballot measure seems to be on its way to qualifying for the...
JOLT data shows job openings rebound
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in April was 10.10 million, up 358,000 openings from last month’s revised...
FHFA requests input on multifamily tenant protections
On May 30, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on tenant protections at multifamily properties with mortgages backed by Fannie Mae and Freddie Mac (the Enterprises).
Through their role...
Multifamily property prices again lead decline
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 1.5 percent in April from their level of the month before. While this was again the largest...
Fannie Mae sees higher multifamily housing starts in 2023
Fannie Mae’s May economic and housing forecast reduces the depth of the predicted downturn in multifamily housing starts. It also delays the start of the downturn but leaves the timing of the recovery largely...
CoreLogic reports declining SFR rent growth
CoreLogic reported that their single-family rent index (SFRI) for March rose 4.3 percent from its year-earlier level, the lowest single-family rent growth rate since April 2022.
Tracking the changes
The recent history of the overall SFRI...
Housing Affordability Coalition statement on congressional letter on housing policy solutions
19 national real estate associations joined together to release a letter to policymakers urging Congress to work with the Biden Administration, housing providers, lenders and other stakeholders to pursue bipartisan solutions to increase the...
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...
Rent delinquencies edge higher in latest Pulse Survey
The “Week 57” edition of the Census Bureau’s Pulse Survey shows that the portion of renters with rent delinquencies rose to 13.8 percent, up from the 13.1 percent reported in the "Week 56" survey...
Rent growth turns negative in November
Yardi Matrix reported that national average apartment rent growth turned negative in November with rents falling $9 from October’s revised level to $1,719 per month.
YoY rent growth rate slide continues
The national average asking apartment...
California rent control update
A measure which would expand the number of properties in California which could be subject to rent control is working its way through the State Senate. The bill, SB-466, would allow local jurisdictions to...
Yardi Matrix updates rent growth forecast
A research brief from Yardi Matrix projects that the national average asking rent growth in 2022 will reach 7.6 percent, up from their previous estimate of 6.9 percent. However, their rent growth forecast for...
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.
Update May...
