Fannie Mae forecasts higher near-term growth
Fannie Mae issued its February forecasts for the economy and for housing. They predict slightly higher growth in 2021 but slightly lower growth in 2022.
GDP growth shifts
Compared to the last time we checked in...
Utility Revenue Services expands LED division in time for Energy Star’s baseline reset
Utility Revenue Services, a decade-long-plus player in utility revenue recovery for apartment properties, has extended its offerings to include LED lighting analyses and related capital projects. Rapid advancements in solid state lighting along with...
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...
HUD releases new research on increasing affordable housing production and preservation
The U.S. Department of Housing and Urban Development released its latest research on innovative strategies being pursued by state and local governments to remove regulatory barriers to affordable housing and increase housing supply.
The new research, published by HUD’s...
Job openings remain high in October
The Bureau of Labor Statistics (BLS) recently released the Job Openings and Labor Turnover (JOLT) report for October. It reported that the number of job openings edged up to the second-highest level ever seen...
Construction materials prices move higher
The Bureau of Labor Statistics (BLS) released its producer price index report for November 2021. It showed that construction components and materials prices were up 1.6 percent in the month, seasonally adjusted. The index...
Google faces antitrust lawsuit
Warm weather regularly signals the time to move for many marked by a precipitous increase in Google searches for apartments. There were over 6 million searches for the word apartment nationally in May 2022...
Fannie Mae predicts a soft landing for economy
Fannie Mae’s February economic forecast calls for a steady decline in inflation while both GDP growth and employment growth remain positive, if subdued. The housing forecast predicts that multifamily starts will be higher in...
Multifamily property prices rise at high but declining rate
The latest commercial property price report from MSCI (formerly Real Capital Analytics) said that multifamily property prices rose 20.9 percent year-over-year in July and that they rose 0.9 percent from the month before. Both...
Apartment List reports on apartment vacancy rates
In its inaugural report on apartment vacancy rates, Apartment List states that the national average rate rose to 4.95 percent in May. This is up 0.6 percent from the year-earlier value and up 0.9 percent...
Suburban shift eases in the third quarter
The suburban shift for single-family home buying precipitated in large part by the onset of the COVID-19 pandemic last year continues but new data reveals that higher density markets are making a comeback as well. In contrast,...
Residential construction spending down in July
The Census Bureau’s report on construction spending shows that the value of residential construction put in place in July was down 1.5 percent from the revised (+1.2 percent) level of the month before. Residential...
Rent growth rises in April
Yardi Matrix reported that national average apartment rent increased $5 in April to $1,709 per month. This is the largest monthly rent increase reported by Yardi Matrix since last July and indicates that a...
Housing starts weaken in July as market slowdown continues
A sharp decline in single-family home construction is another indicator that the housing slowdown is showing no signs of abating, as rising construction costs, elevated mortgage rates and supply chain disruptions continue to act...
Fannie Mae advances market readiness for new index rate
Fannie Mae highlighted the achievement of key milestones, as it continues advancing the mortgage market's readiness for the anticipated future cessation of LIBOR.
Through external engagement, including participation on the Alternative Reference Rates Committee (ARRC) and...
