Higher rent increases seen in latest Pulse Survey
The “Week 60” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are reporting that their rent increased in the last 12 months has been rising. The most common...
Tighter lending standards and multifamily lending
A recent report from Berkadia examines whether the widely reported recent tightening in lending standards by banks has significantly impacted the banks’ lending on commercial real estate. It concludes that, in the case of...
Multifamily developer confidence in positive territory for second quarter
Confidence in the market for new multifamily housing was in positive territory for the second quarter, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders...
July multifamily construction completions down sharply
The Census Bureau’s new residential construction report for July stated that the number of multifamily permits issued, starts and unit completions were all down from the levels reported last month. The number of multifamily...
Single-family starts edge higher in July but rising rate concerns persist
A lack of existing inventory and solid demand helped offset rising mortgage rates and push single-family production higher in July, even as builders continue to grapple with elevated construction and financing costs as well...
Multifamily mortgage originations rise from Q1 to Q2
A report from the Mortgage Bankers’ Association (MBA) says that originations of multifamily mortgages in Q2 2023 were up 37 percent quarter-over-quarter but were down 48 percent year-over-year. Originations of all commercial mortgages as...
Builder confidence falls on rising mortgage rates
After steadily rising for seven consecutive months, builder confidence retreated in August as rising mortgage rates nearing 7 percent (per Freddie Mac) and stubbornly high shelter inflation have further eroded housing affordability and put...
Increasing housing supply critical for Fed’s fight on inflation
With shelter inflation accounting for a staggering 90 percent of the overall inflation rate last month, the National Association of Home Builders (NAHB) is calling on policymakers at all levels of government to take...
Construction materials prices nearly unchanged in July
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were up 0.1 percent month-over-month in July, seasonally adjusted. The index of components and materials for...
Yardi Matrix reports slowing rent growth in July
Yardi Matrix reported that national average apartment rent increased $2 in July from the revised level of the month before. The average rent reached $1,729 per month. Year-over-year rent growth rate continues to fall The national...
Broad coalition of housing providers and lending associations warns FHFA against rent control
Eighteen associations representing housing providers, lenders and residents today sent a letter to Federal Housing Finance Agency (FHFA) Director Sandra Thompson warning that mandatory rent control and rent stabilization policies will increase rents, reduce...
Rising mortgage rates and home prices put a damper on housing affordability
Rising home prices and interest rates coupled with elevated construction costs, low existing inventory and solid demand resulted in a significant decline in housing affordability during the second quarter of 2023. According to the National...
Commercial real estate prices expected to stabilize in H2 2023, CBRE survey finds
Commercial real estate prices are showing signs of stabilizing as inflation moderates and the Federal Reserve nears the end of its interest rate hiking cycle, according to a new CBRE survey. The CBRE survey, which...
Multifamily CMBS delinquencies rise again in July
Trepp reported that the delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans moved higher in July. The delinquency rate for the overall CMBS market also rose, with only industrial properties seeing delinquency rates...
Employment growth slows in July
The Employment Situation Report from the Bureau of Labor Statistics stated that employment rose in only one of the two categories of residential construction employment and in only one of the two categories of...
