Multifamily property price rises stall
CoStar reported that its value-weighted index of multifamily property prices increased only 1.0 percent year-over-year in December 2022. The index was down 1.4 percent month-over-month, the fifth monthly decline in a row. The value-weighted index...
White House plans new renter protections
The White House recently announced a series of actions that executive branch agencies will take to improve renter protections and “fairness” in the rental housing market. It also released a document called Blueprint for...
Yardi Matrix sees slower rent growth in 2023
Yardi Matrix now projects that the national average asking rent growth in 2023 will be 2.6 percent, down from their previous estimate of 3.1 percent. The decline was driven by a few large markets...
New home sales inch higher in December but market weakness remains
While new home sales posted a modest gain in December, elevated mortgage rates and higher construction costs continue to hinder housing affordability and put a damper on consumer demand. Sales of newly built, single-family homes...
Industry associations response to White House Renters Plan
NAHB Chairman Jerry Konter Jerry Konter, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Savannah, Ga., issued the following statement on the White House residential renter package...
HUD proposes new revisions to AFFH rules
On January 19, the Department of Housing and Urban Development (HUD) issued a press release stating its intent to once again amend the rules surrounding HUD's affirmatively furthering fair housing (AFFH) regulations. While HUD...
Recession coming, but later
Fannie Mae’s January economic and housing forecasts predict a stronger finish for multifamily starts in 2022 and a higher number of multifamily starts in 2023 than did earlier forecasts. However, it also foresees a...
Multifamily property prices again lead decline
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 1.9 percent in December from their level of the month before. For the second month in succession,...
Housing groups file legal challenge to new WOTUS rule
NMHC joined 16 other housing groups, infrastructure and agricultural organizations, among others, in filing suit yesterday to challenge the recently released Waters of the U.S. (WOTUS) rule. As noted in a statement published earlier this month,...
Multifamily housing permits rise but starts fall in December
The Census Bureau’s new residential construction report for December reported that the number of multifamily permits issued increased but that starts and completions both fell for the month. Starts exceeded completions again leading the...
Remodeling market sentiment weakened in fourth quarter but remains positive
The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the fourth quarter, posting a reading of 66, declining 17 points compared to the fourth quarter of 2021. “Remodelers...
Construction materials prices move lower in December
The December producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices fell 0.3 percent in the month, seasonally adjusted, the fourth monthly decline in a row....
Rents and transactions continue to fall
Apartment market conditions weakened in the National Multifamily Housing Council’s (NMHC) Quarterly Survey of Apartment Market Conditions for January 2023, as the Market Tightness (14), Sales Volume (10), Equity Financing (20), and Debt Financing...
Builder confidence uptick signals turning point for housing lies ahead
A modest drop in interest rates helped to end a string of 12 straight monthly declines in builder confidence levels, although sentiment remains in bearish territory as builders continue to grapple with elevated construction...
Student-housing sees record-shattering transaction volume at 2022 year-end
Student housing has set an all-time high in transaction volume for 2022 with an annualized total of $18.9 billion, significantly surpassing the previous year-end high of $11.5 billion in 2021. “We are seeing significant interest...
