Multifamily and construction job openings much lower in January
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in January was 10.82 million, down from the preliminary figure reported last...
New study finds rent increases in purpose-built student housing linked to broader U.S. rental...
A new study from the National Multifamily Housing Council's (NMHC) Research Foundation examines the purpose-built student housing market's role in overall escalating college costs. The report, authored by Jack Liebersohn and Jason Lee, finds that...
NMHC and NAA urge Congress to deploy tax policy to create more affordable housing...
Tax policy is a critical tool that can be used to address the nation’s housing affordability crisis. National Multifamily Housing Council (NMHC) President Sharon Wilson Géno delivered that message to the Senate Finance Committee...
Weather insurance rates on the rise
Yardi Matrix has released a research bulletin describing changes coming to the weather damage insurance market, and to insurance rates, for commercial property in response to recent storms. Where the damages are The report notes that...
Single-family market share continues to shift from large population centers
While nationwide single-family housing starts have slowed in the past year, the largest drop on a percentage basis is occurring in the most dense counties, where housing costs are highest. Meanwhile, multifamily growth was...
Looming multifamily oversupply expected to be short-lived
While the delivery of a near-record 716,000 new multifamily housing units in the U.S. over the next two years will create a short-term oversupply, the new supply is needed to keep long-term fundamentals healthy...
Rent delinquencies edge higher in latest Pulse Survey
The “Week 54” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments rose to 14.2 percent, up from the 12.6 percent reported in...
Residential construction spending slows despite multifamily
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in January was up 0.4 percent month-over-month. Spending on single-family fell for the 9th month in...
Multifamily property prices fall as transactions plunge
CoStar reported that its value-weighted index of multifamily property prices fell 3.7 percent year-over-year in January 2023. This index was down 1.3 percent month-over-month, the seventh monthly decline in a row. The value-weighted index of...
Fannie Mae partners with multifamily industry to launch 2023 Multifamily Energy and Water Survey
Fannie Mae announced that it has launched the 2023 Multifamily Energy and Water Survey, a national effort to collect and analyze whole property energy and water consumption and costs from 2022, together with property-specific...
Rent growth losing streak ends in February
The latest rent report from Apartment List shows that the national average monthly rent growth in February was a positive 0.3 percent, breaking a string of 5 monthly declines. Year-over-year rent growth was 3.0...
Housing starts forecasts rise
Fannie Mae’s February economic and housing forecasts predict a higher number of multifamily starts in 2023 and 2024 than did last month’s forecast. The forecast for single-family starts was also revised higher for both...
Residential developers market size expected to reach or exceed $200 billion in 2023
Like many industries and markets, the residential real estate market was adversely affected by the pandemic. However, despite this disruption, the housing market is resilient with increasing homeownership in this sector. Industry reports actually...
Multifamily developer confidence remains in negative territory in fourth quarter
While the two main confidence indexes for multifamily housing increased slightly in the fourth quarter, they both remained in negative territory, according to results from the Multifamily Market Survey (MMS) released by the National...
Industry responds to HUD’s decision to lower FHA premiums
NAHB Chairman Alicia Huey Alicia, Huey, chairman of the National Association of Home Builders (NAHB) and a custom home builder and developer from Birmingham, Ala., today issued the following statement regarding the announcement by the...