Job openings down sharply 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 7.60 million. This was reported to be down 556,000...
Multifamily construction spending lower to end the year
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in December was down 0.28 percent from the revised level of the month before. Spending on...
CoStar: multifamily property prices rise as transactions surge
CoStar reported that its value-weighted index of multifamily property prices rose 1.4 percent month-over-month in December, slightly lower than last month’s reported increase. This index was down 2.8 percent year-over-year. By contrast, MSCI Real Capital...
Class B apartments lead occupancy increases
Apartment occupancy has increased across all three asset classes lead by Class B, despite a 50-year-high wave of new apartment deliveries, according to RealPage Analytics. Seven consecutive quarters of record new apartment...
Clearing the air on gas ranges
If you have not watched the movie, “Caddy Shack” I highly recommend it. Not only is it one of Bill Murray’s finest performances, but it also contains one of the most hilarious scenes ever,...
Rents start the new year on a down note
The latest rent report from Apartment List shows that the national median monthly rent growth in January was -0.21 percent. Rents have fallen on a month-over-month basis for 6 straight months. Year-over-year rent growth...
IRR: Cap rates edged higher in 2024
Intergra Realty Resources (IRR) recently released its annual Viewpoint report for 2025. The report discusses the state of the US economy and presents an update on the operating performance data for four commercial property...
SFR rents rise at lowest pace in years
CoreLogic reported that their single-family rent index (SFRI) for November rose 1.5 percent from its year-earlier level. This is down 0.2 percentage points from last month’s reported year-over-year rent growth rate and is down...
Strong senior housing demand and occupancy outpace supply
Senior housing demand is increasing as occupancy reaches new highs, but supply remains stagnant, according to the National Investment Center for Seniors Housing & Care (NIC).The national occupancy rate for senior housing...
The roots of sustainability
I was recently reminded of my early roots in sustainability in multifamily. Specifically, carrots. For my first major renovation, I wanted to do a toilet retrofit, which would replace over 450 toilets which used 1.8...
MSCI: Multifamily property prices stop falling in December
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices were unchanged month-over-month in December from the revised level of the month before. However, prices were down 4.2...
NMHC: apartment market conditions deteriorate in Q4
Apartment market conditions declined in the National Multifamily Housing Council’s (NMHC’s) most recent Quarterly Survey of Apartment Market Conditions. All four indices – Market Tightness (40), Sales Volume (41), Equity Financing (48) and Debt...
Multifamily starts projected lower than in last month’s forecast
As in last month’s forecast, Fannie Mae’s January housing forecast calls for multifamily housing starts to bottom out in mid-2025 and then to steadily increase through the rest of the forecast horizon. However, their...
Multifamily CMBS special servicing rate jumps in December
Trepp reported that special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans increased again in December, jumping 135 basis points. It is now up 361 basis points since July. The overall CMBS special...
Multifamily starts rebound
The Census Bureau’s new residential construction report stated that, after falling to the lowest level since April 2020 last month, multifamily starts rebounded to the highest level in a year in December. However, both...
