Apartment demand fell in 2022
RealPage’s Early Edition report for Q4 2022 sums up key apartment absorption measures for 2022 and looks ahead to what we can expect for 2023. Ending a run RealPage reported that apartment absorption has been positive...
Rent delinquencies down slightly in Pulse Survey
The “Week 52” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments fell slightly to 13.3 percent, down from the 13.7 percent reported...
MBA forecasts a shrinking economy in 2023
The Mortgage Bankers’ Association (MBA) recently released its Q3 2022 quarterly databook. It contains data on mortgage originations and on holdings that has been previously discussed. It also includes new forecasts for key economic...
Senior housing occupancy up in Q4
An NIC Map Vision summary of the fundamentals of the senior housing industry reports that key metrics are still well below pre-pandemic levels, but trends are positive. Segmenting the market The senior housing market is highly...
Rent growth falls in December
Yardi Matrix reported that national average apartment rent growth turned negative in December with rents falling $4 from November’s revised level to $1,715 per month. YoY rent growth rate slide continues The national average asking apartment...
CoStar reports falling multifamily property prices
CoStar reported that its value-weighted index of multifamily property prices was down 1.4 percent month-over-month in November, the fifth monthly decline in a row. However, this index was still up 6.1 percent year-over-year. The value-weighted...
Job openings remain high in November
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings at the end of November was 10.46 million, up from the preliminary...
Rents fall in December
The latest rent report from Apartment List shows that the national average rent growth in December remained negative for the fourth consecutive month. Rents fell 0.8 percent month-over-month. Year-over-year rent growth was 3.9 percent,...
New EPA rules will discourage critically needed housing production
The National Apartment Association and the National Multifamily Housing Council express their disappointment in a regulation the EPA issued re-defining and expanding what “waters of the U.S.” means under the Clean Water Act. While the apartment...
November new home sales up as interest rates fall back
While new home sales received a slight bounce in November from moderating mortgage rates, the housing market continues to struggle because of ongoing supply chain disruptions, elevated construction costs and challenging affordability conditions. Sales of...
Multifamily property prices lead decline
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 1.1 percent in November from their level of the month before. This was the largest month-over-month decline...
Multifamily construction starts continue to outpace completions
The Census Bureau’s new residential construction report for November stated that the number of multifamily construction permits issued was down from its recent very high levels but that starts and completions both rose for...
Fannie Mae lowers multifamily housing starts forecast
Fannie Mae’s December economic and housing forecasts predict a larger decline in multifamily housing starts over the next two years than in earlier forecasts. The single-family housing starts forecast was revised higher for 2023...
Single-family production continues to sag, multifamily permits weakening
Single-family housing starts continued to fall in November, with the pace of construction down 32 percent since February when mortgage rates began to rise. The housing market continues to weaken because stubbornly high construction...
Stop Wall Street Landlords Act introduced
Three California Democrats have introduced Federal legislation intended to discourage corporate ownership of single-family rental housing by changing tax law to make such ownership unprofitable. The bill, designated House Resolution 9246, is sponsored by...
