Weather predictions and utility expenses
I know that everyone loves a good groundhog prediction. I mean, what is not to love about a large burrowing rodent telling you what the weather will be (with greater accuracy than the Farmer’s...
NMHC survey reveals rise in rental fraud
A recent survey of rental housing providers by the National Multifamily Housing Council found that rental application, financial and identity fraud are increasing throughout the nation, fueled by social media platforms that...
Vacancy rate unchanged as more households rent in Q4
The Census Bureau released its quarterly report on home ownership and occupancy for Q4 2023. It stated that the rental housing vacancy rate was 6.6 percent, unchanged from its level in Q3 but up...
Rent growth in winter chill
The latest rent report from Apartment List shows that the national median monthly rent growth in January was -0.3 percent. Year-over-year rent growth was -1.0 percent. Apartment List reported the national median apartment rent to...
Multifamily jobs on the rise in December
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in December was 9.03 million. This was reported to be up 101,000...
SFR rent growth rate edges higher in November
CoreLogic reported that their single-family rent index (SFRI) for November rose 2.7 percent from its year-earlier level. This is up from the 2.5 percent year-over-year rent growth reported last month. This increase marks a...
MSCI: Multifamily property prices unchanged
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices in December were statistically unchanged from their level of the month before, breaking a string of 16 monthly...
Office-to-apartment conversions gather steam
Office-to-apartment conversions gather steam as developers seek adaptive reuse as a way to fix pandemic-related problems in the office market. Adaptive reuse of office buildings has become so popular, CoStar dubbed 2023...
Cap rates rise in latest reading from IRR
Intergra Realty Resources (IRR) recently released its annual Viewpoint report for 2024. The report discusses the state of the US economy and presents an update on the operating and sales performance data for four...
MBA forecasts 25 percent rise in multifamily lending in 2024
Total commercial and multifamily mortgage borrowing and lending is expected to rise to $576 billion in 2024, which is a 29 percent increase from 2023’s estimated total of $444 billion. This is according to...
Which is the “worst” is very personal
When it comes to emissions Scopes, which is the worst? I get asked that a lot. I think it is sort of subjective and depends on where you are standing and what “worst” you...
New York City multifamily sales fell in 2023
In 2023, the multifamily sector in New York City experienced a notable downturn, with total dollar volume of $7.4 billion spread across 1,036 transactions, a year-over-year drop of 52% and 35%, respectively, according to...
Financing conditions show improvement in NMHC survey
Apartment market conditions continued to weaken in the National Multifamily Housing Council's (NMHC) Quarterly Survey of Apartment Market Conditions for January 2024. With the exception of Debt Financing (66), which turned positive this quarter,...
Fannie Mae no longer forecasts recession
Fannie Mae’s January economic forecast is their first since April 2022 that does not anticipate that the U.S. economy will go into recession as the Federal Reserve works to bring inflation under control. The...
Fannie Mae predicts instability and cloudy skies in 2024
Fannie Mae issued a multifamily market forecast this month predicting instability and cloudy skies in 2024. “Our prediction of turbulence in the multifamily market last year was correct, and it appears that it...
