Big drop in June multifamily construction starts
The Census Bureau’s new residential construction report for June stated that the number of multifamily permits issued, starts and unit completions were all down sharply for the month. This was on top of downward...
Industry response to White House fee announcement
NMHC: NMHC members believe that transparency in the cost of rental housing is positive for renters and housing providers alike. While we support the voluntary initiatives included in the White House’s announcement today, we strongly...
Yardi Matrix reports solid rent growth in June
Yardi Matrix reported that national average apartment rent increased $7 in June from the revised level of the month before. The average rent reached $1,726 per month. Year-over-year rent growth rate continues to fall The national...
Single-family starts decline in June but permits post solid gain
Single-family production fell back after four straight monthly gains as elevated construction costs and rising mortgage rates led to a reduction in home building activity and affordability conditions worsened for home buyers. Overall housing starts...
Apartment market continues to loosen
Apartment market conditions continued to weaken in the National Multifamily Housing Council’s (NMHC’s) Quarterly Survey of Apartment Market Conditions for July 2023, as the Market Tightness (26), Sales Volume (40), Equity Financing (22) and...
Builder confidence edges higher despite rising rate concerns
Low existing inventory that is keeping demand solid for new homes helped to push builder confidence up in July even as the industry continues to grapple with rising mortgage rates, elevated construction costs and...
NAHB tells Congress how excessive regulations and codes harm housing affordability
The National Association of Home Builders (NAHB) told Congress that burdensome government regulations and mandates which support environmental, social and governance (ESG) policies impede the housing industry’s ability to increase the production of quality,...
NMHC, NAA support the introduction of choice in Affordable Housing Act
The National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) applaud the introduction of the Choice in Affordable Housing Act, bipartisan legislation that aims to increase private sector participation in the Section...
Construction materials prices flat in June
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were unchanged month-over-month in June, seasonally adjusted. The index of components and materials for construction was...
Remodeling market sentiment edged down in second quarter
The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter, posting a reading of 68, edging down two points compared to the previous quarter. The NAHB/Westlake...
Senior housing occupancy rises in Q2
An NIC Map Vision summary report shows that occupancy and other basic metrics for the senior housing industry continued to improve in Q2. Analyzing the market The senior housing market is divided into several sub-markets. NIC...
Multifamily CMBS delinquency rates move higher in June
Trepp reported that both delinquency rates and special servicing rates for multifamily CMBS loans rose in June. Delinquency rates and special servicing rates for the overall CMBS market also rose driven by problems with...
NAHB now accepting Pillars Awards applications
Since 1990, the National Association of Homebuilders (NAHB) has sponsored the Pillars of the Industry Awards to recognize excellence in apartment and condominium design and development, interior merchandising and superior property management and marketing. The Pillars...
June employment report sees lower jobs growth
The Employment Situation Report from the Bureau of Labor Statistics stated that residential construction employment rose compared to its revised level of the month before. However, apartment operations employment fell slightly. Employment growth still positive The...
Job openings fall in latest JOLT report
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in May was 9.82 million, down 496,000 openings from last month’s revised...
