Construction materials prices continue to climb in January
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were up 0.3 percent month-over-month in January on a seasonally adjusted basis. The index of components...
Census report foretells multifamily construction slowdown
The Census Bureau’s new residential construction report for January showed rising level of multifamily construction completions. However, both multifamily permits and starts were down sharply for the month. If this trend continues, it would...
Least and most affordable cities for single renters
According to a new study from New York-based listing service RentHop, single renters are faced with widely varying housing burdens dependent on the median rent and income in a given area. Of...
Thar’s Gold in Them Thar Dumpsters!
The Department of Energy (DOE) recently hosted a webcast on managing Scope 3 emissions in commercial real estate. The primary discussion was around trash and how they are engaging their tenants to encourage composting...
Builder sentiment rises again in February
Expectations that mortgage rates will continue to moderate in the coming months, the prospect of future rate cuts by the Federal Reserve later this year, and a protracted lack of existing inventory helped provide...
Yardi Matrix reports rents hold steady in January
Yardi Matrix reported that national average apartment rent was unchanged in January compared to the revised level of the month before at $1,710 per month. The national average year-over-year apartment asking rent growth was 0.5...
Multifamily mortgage originations fall in Q4
A report from the Mortgage Bankers’ Association (MBA) says that multifamily mortgage originations in Q4 2023 were down 27 percent year-over-year despite rising 13 percent from their level in Q3. Originations of all commercial...
Multifamily CMBS delinquency and special servicing rates drop again
Trepp reported that the delinquency rate for multifamily commercial mortgage-backed security (CMBS) loans declined in January, falling 71 basis point. Trepp also reported that the multifamily CMBS special servicing rate declined, falling 83 basis...
12 percent of multifamily mortgage balances mature in 2024
Twenty percent ($929 billion) of the $4.7 trillion of outstanding commercial and multifamily mortgages held by lenders and investors will mature in 2024, a 28 percent increase from the $729 billion that matured in...
Water management is elemental
Since California got a hose-in-the-sky rain this week, it is a good time for us to think about water. Right now, California has loads of water, possibly more than its infrastructure was designed to...
Rent declines stabilize while Midwest markets outperform
Apartment rent growth is expected to remain stagnant near zero this year, just as it has since August 2023, according to RealPage Analytics. RealPage SVP and Chief Economist Jay Parsons explained that...
Yardi Matrix sees changing mix in multifamily starts
A new report from Yardi Matrix examines the changes in the number of multifamily starts and the sorts of developments started over the last 10 years. It takes a broad view of multifamily housing...
Multifamily property prices still falling, but more slowly
CoStar reported that its value-weighted index of multifamily property prices fell 0.4 percent month-over-month in December 2023, the fourth decline in a row. This index was down 10.7 percent year-over-year. The value-weighted index of non-multifamily...
Multifamily construction spending ticks higher in December
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in December was up 0.3 percent from the revised level of the month before. Spending on...
Multifamily employment reported to rise in January
The Employment Situation Report from the Bureau of Labor Statistics stated that January employment levels in 3 of the 4 multifamily-related job categories we track rose from the revised levels of the previous month. Overall...
