FHFA Accepting Membership Applications for its Advisory Committee on Affordable, Equitable, and Sustainable Housing
On September 13, the Federal Housing Finance Agency (FHFA) announced it will begin accepting membership applications for its Federal Advisory Committee on Affordable, Equitable, and Sustainable Housing. The Committee will advise FHFA on affordable, equitable,...
Google faces antitrust lawsuit
Warm weather regularly signals the time to move for many marked by a precipitous increase in Google searches for apartments. There were over 6 million searches for the word apartment nationally in May 2022...
MBA reports commercial mortgage delinquency rates on the rise
The Mortgage Bankers Association (MBA) reported that delinquency rates are growing for commercial mortgages issued by 4 of the 5 classes of lenders they track. Distress definitions differ The MBA report is issued quarterly, with the...
Where the jobs are going
The Bureau of Labor Statistics recently released its County Employment and Wages report for Q1 2023 which identifies the number of jobs and the level of wages by Metropolitan Statistical Area (MSA). The data...
IPA finds deep local drops in multifamily construction starts
While the Census Bureau reports on multifamily construction starts at the national level, they do not supply data at the state or metro levels. A new report from Institutional Property Advisors (IPA) supplies more...
Yardi Matrix reports rent growth rate falls again in August
Yardi Matrix reported that national average apartment rent growth was $1 in August, compared to the revised rent level of the month before. The average rent reached $1,728 per month. Rent growth rate continues its...
Multifamily CMBS delinquency rate holds steady in August
Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans was effectively unchanged in August, moving up 1 basis point. The delinquency rate for the overall CMBS market fell for the first...
Employment said to grow as prior month’s levels revised lower
The Employment Situation Report from the Bureau of Labor Statistics stated that employment was up for the month in only 2 of the 4 multifamily-related job categories we track despite downward revisions to the...
Residential construction spending still rising
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in July was up 0.2 percent month-over-month. Spending on single-family residential construction rose 2.8 percent while...
EPA announces new WOTUS rule
On August 29 EPA issued a revised final rule updating their definition of “waters of the United States” (WOTUS). The revision was made in response to the Supreme Court’s May decision in the case...
Rent growth turns negative in August
The latest rent report from Apartment List shows that the national average monthly rent growth in August was -0.1 percent, the first negative reading since February. Year-over-year rent growth was -1.2 percent. The month-over-month...
Job openings much lower in July
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in July was 8.83 million, down 338,000 openings month-over-month. In addition, last...
Multifamily property prices rise in July
CoStar reported that its value-weighted index of multifamily property prices rose 1.4 percent month-over-month in July, the first month-over-month increase since June 2022. However, this index fell 18.0 percent year-over-year. The value-weighted index of non-multifamily...
Fannie Mae examines multifamily construction pipeline
The multifamily commentary that accompanied Fannie Mae’s monthly forecast for August reported on the number of units in the multifamily construction pipeline. In doing so, it used data from Dodge Data and Analytics (Dodge). Starts...
MSCI: Multifamily property prices up in July
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices in July were up 0.1 percent from their level of the month before but still down 12.2 percent...
