Multifamily CMBS special servicing rate rises in April
Trepp reported that the special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans moved modestly higher in April, reversing its fall in the month before. The overall CMBS special servicing rate on commercial...
Free or not free
When I was very young my parents had an agitated conversation in our tiny kitchen which made my gut hurt: My dad was out of shaving cream. Shaving cream was on sale at the...
MSCI: Multifamily property prices head lower
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices were down 0.4 percent month-over-month in April compared to the revised level of the month before. Prices were...
Staying power: rent renewals boost multihousing stability
Something’s shifting in the rental market and it's good news for operators. Despite more apartments coming online, surging rent renewals are keeping the rental market very competitive.
In May 2025, apartment lease renewals...
Multifamily starts forecast continues to rise
Revisions to Fannie Mae’s housing forecast in May call for more multifamily starts across the entire forecast horizon than in last month’s forecast. Fannie Mae is now predicting 371,000 starts in 2025 with 396,000...
EPA drops ESPM: prepare for the worst
Many of you have likely seen recent news reports from early May 2025 indicating that the ENERGY STAR program is facing elimination as part of a broader EPA reorganization. The reports are confirmed. This...
EPA drops ESPM: hope for the best
While concerns about the potential elimination or privatization of ENERGY STAR Portfolio Manager (ESPM) are understandable, the possible transition away from ESPM could, in fact, present opportunities for innovation, competition, and improved data management.
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A sense of optimism at the MBA
The following is excerpted from remarks prepared for delivery by the Mortgage Bankers Association’s President and CEO Bob Broeksmit, CMB, at the 2025 Secondary and Capital Markets Conference:
My message today is simple. I’m going...
Multifamily mortgage originations up sharply in Q1
A report from the Mortgage Bankers’ Association (MBA) says that multifamily mortgage originations were up 39 percent year-over-year in Q1. Originations of all commercial mortgages as a single asset class rose 42 percent year-over-year.
Commercial...
Multifamily construction activity falls in April
The Census Bureau’s report on new residential construction stated that multifamily permits declined again after last month’s bump. Multifamily starts rose for the third consecutive month. Multifamily completions continued their slide which started last...
Markets that reached supply summits earlier and at more modest levels are now seeing...
In evaluating rent performance among major apartment markets, two key factors emerge: the timing of peak supply and the scale of new inventory at that peak. Data from RealPage Analytics suggests markets...
Construction materials prices rise moderately despite copper wire price jump
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices rose 0.3 percent month-over-month in April on a seasonally adjusted basis. The index of components and...
CBRE reports CRE investment up 14 percent in Q1
A recent report from CBRE says that both commercial mortgage investment volume and momentum rose in Q1. Volume grew to $88 billion, while momentum rose 13 percent compared to their year-earlier levels.
Dividing the market
CBRE...
Redfin: April rents up for month but down for year
Redfin’s rent report for April says that the national median asking apartment rent rose 0.9 percent for the month to reach a level of $1,625. However, the median rent growth was -1.0 percent year-over-year.
Varying...
Update: Rent control advances in Washington, stalls in California
Update May 12, 2025: Governor Bob Ferguson (D) has signed the Washington state rent control bill. Its provisions take effect immediately.
The St Paul city council has passed changes to its rent control ordinance that...
