Slow rise in multifamily construction spending in March
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in March was up 0.4 percent month-over-month. Spending on single-family fell for the 11th month in...
Multifamily property prices up on higher sales volume
CoStar reported that its value-weighted index of multifamily property prices fell 7.2 percent year-over-year in March 2023. However, this index was up 1.4 percent month-over-month, the first monthly rise after a string of 8...
April rent growth lags prior years
The latest rent report from Apartment List shows that the national average monthly rent growth in April was a positive 0.5 percent, down 0.1 percentage point from last month’s increase. It was the third...
Trepp examines refinance risk
A recent report from Trepp looked at the amount of securitized debt on multifamily property that is expected to come due over the next 2 years and estimated that 42 percent of that debt...
Market continues to loosen, transactions pull back amidst economic uncertainty
Apartment market conditions continued to weaken in the National Multifamily Housing Council’s (NMHC) Quarterly Survey of Apartment Market Conditions for April 2023, as the Market Tightness (31), Sales Volume (26), Equity Financing (23), and...
Fannie Mae forecasts shallower multifamily downturn
Fannie Mae’s April economic and housing forecast reduces the depth of the predicted downturn in multifamily housing starts, although it leaves the timing of the downturn largely unchanged. Multifamily starts forecast rises The current forecast for...
Multifamily property prices lead decline
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 1.9 percent in March from their level of the month before. While this was again the largest...
SFR rent growth continues slide
A report from CoreLogic, a data and analytics company, states that the rate of rent growth in the single-family rental (SFR) market fell in February for the tenth month in a row. Year-over-year rents...
Rent delinquencies stabilize in latest Pulse Survey
The “Week 56” edition of the Census Bureau’s Pulse Survey shows that the portion of renters with rent delinquencies rose to 13.1 percent, up from the 12.4 percent reported in the Week 55 survey...
Mixed picture for CMBS in March
Two reports from Trepp give conflicting indications of the health of the CMBS market with one showing declining delinquency rates but the other showing rising special servicing rates. CBMS delinquencies edge lower One monthly Trepp report...
Multifamily construction activity falls back in March
The Census Bureau’s new residential construction report for March stated that the number of multifamily permits issued, starts and completions all fell from last month's high levels. Once again, there were more starts than...
Lack of existing inventory continues to support builder sentiment
Builders remained cautiously optimistic in April as limited resale inventory helped to increase demand in the new home market even as the industry continues to grapple with building material issues. Builder confidence in the market...
Construction materials prices up for the month
The March producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices rose 0.5 percent for the month, seasonally adjusted. This is after a string of 4...
Improving fundamentals for senior housing in Q1
An NIC Map Vision summary report shows that the fundamental metrics for the senior housing industry are strengthening. However, they remain below pre-pandemic levels. Segmenting the market The senior housing market is highly fragmented, with NIC...
2023 NMHC 50 highlights a tumultuous year for multifamily with market improvements expected
Pandemic-related household growth and economic impacts resulted in a complicated 2022 for the multifamily industry. An extremely tight market in the first quarter of 2022 yielded to slower rent growth and higher vacancy rates...
