RealPage reconfigures revenue management products after San Francisco bans rent-setting software
RealPage has reconfigured its revenue management products after San Francisco bans rent-setting software in a direct attack on the Richardson, Texas-based company.
RealPage announced Thursday that it is offering its revenue management software...
Job openings fall in latest JOLT report
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in May was 9.82 million, down 496,000 openings from last month’s revised...
Rent growth turns positive in January
Yardi Matrix reported that the national average asking apartment rent was up $3 in January compared to the revised level of the month before at $1,746 per month. The national average year-over-year asking apartment rent...
HUD to drastically cut notice for inspections of public housing and privately owned apartment...
The U.S. Department of Housing and Urban Development (HUD) today announced it is dramatically reducing the advance notice it provides to public housing authorities (PHAs) and private owners of HUD-subsidized apartment developments before their...
Multifamily property values continue to rise in August
A pair of recent reports, one from CoStar and another from Real Capital Analytics (RCA), show that multifamily property continues to see price increases despite the pandemic.
Defining the indices
The CoStar report focuses on a...
Housing affordability posts solid gain but still much lower from a year ago
Solid nominal wage gains (unadjusted for inflation) combined with lower mortgage rates and home prices helped to boost housing affordability at the start of 2023, but ongoing building material supply chain issues and expected...
Poll shows Californians support rent control initiative
A poll from the Public Policy Institute of California (PPIC) says the 55 percent of likely voters are currently in support of an initiative scheduled for the November 2024 ballot that would expand the...
October job openings fall sharply
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in October was 8.73 million. This was reported to be down 617,000...
Multifamily employment grows despite fewer job openings
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in June was 8.18 million. This was reported to be down 46,000...
Single-family starts post solid gain in May
Limited existing inventory combined with solid demand and improving supply chains helped push single-family starts to an 11-month high in May.
Overall housing starts in May increased 21.7 percent to a seasonally adjusted annual rate...
Mixed report for residential construction employment growth
The Employment Situation Report from the Bureau of Labor Statistics (BLS) stated that the economy experienced modest overall employment growth in January. While the employment levels for 3 of the 4 multifamily-related job categories...
Residential construction spending continues rise in December
The Census Bureau’s report on construction spending shows that the value of residential construction put in place in December was up 1.1 percent from the revised level of the month before. Residential construction spending...
Rent growth remains negative in December
The latest rent report from Apartment List shows that the national median monthly rent growth in December was -0.8 percent. Year-over-year rent growth was -1.0 percent.
Apartment List reported the national median apartment rent to...
Multifamily property prices fall in June
CoStar reported that its value-weighted index of multifamily property prices fell 19.2 percent year-over-year in June 2023. This index was down 1.4 percent month-over-month.
The value-weighted index of non-multifamily commercial property rose by 1.6 percent,...
Construction delays ongoing as costs are on the rise
Fully 97 percent of apartment developers report experiencing construction delays according to the National Multifamily Housing Council’s (NMHC) Construction Quarterly Survey. Of those experiencing overall delays, 83 percent reported delays in permitting and 93...
