Apartment watch

Things to watch, what to know, in your apartment operation

ULI economic forecast

ULI economic forecast sees continued growth

The Urban Land Institute (ULI) recently released its biannual economic forecast for spring 2022. It generally has a more positive outlook for the economy and for the multifamily housing industry than did their last...
multifamily jobs

Multifamily jobs numbers edge higher

The latest Employment Situation Report from the Bureau of Labor Statistics stated that the numbers of residential construction jobs and of apartment operations jobs both rose for the month, but not all multifamily jobs...
commercial property price rises

Multifamily property prices cooling

The latest CoStar report on the changes in the prices of commercial property in the United States said that the equal-weighted quarterly index of multifamily property prices rose 13.3 percent over the last 12...
quit job

Job openings and quits set records in March

The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings hit a new record high at the end of March. Hiring was...
residential construction spending

Residential construction spending rises despite multifamily stall

The Census Bureau’s report on construction spending shows that the value of residential construction put in place in March was up 1.0 percent from the revised level of the month before. Residential construction spending...
rent increases

Rent growth rises with the season

The latest rent report from Apartment List shows that the national average rent growth in April reached 1.0 percent month-over-month and 16.4 percent year-over-year. The history of rent growth The last two years have been extraordinary...
student housing

Student housing suffers supply/demand pressures

U.S. college enrollment has been declining for years but higher education institutions faced an unprecedented drop in students during COVID. Undergraduate enrollment across U.S. colleges and universities dropped by over 1 million students in...
headwinds for the economy

Marcus and Millichap assesses economic headwinds

Marcus & Millichap recently presented a webinar on its 2022 Outlook, which examined how the economy, inflation and Federal Reserve policy are impacting the commercial real estate market. Presenters were Hessam Nadji, President and...

Investors see growing demand but tougher conditions

Apartment markets tightened further according to the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions for April 2022, while financing became more costly. The Market Tightness (60) index was the only index...
apartment vacancy

Census reports uptick in rental vacancy rates

The Census Bureau released its quarterly report on home ownership and occupancy for Q1 2022. It showed that the rental housing vacancy rate was 5.8 percent, up from a level of 5.6 percent in...
economic growth

NOI is growing, but slowly

A new report from Trepp seeks to measure the growth in net operating income (NOI) from 2020 to 2021. It did this by analyzing multifamily properties with loans issued by Freddie Mac for which...

Housing industry warns Biden on affordability

More than 10,000 members of the National Association of Home Builders (NAHB) sent a letter to President Biden calling on the White House to take immediate action as the growing housing affordability crisis is...

Declining affordability conditions put a damper on new home sales

Worsening affordability conditions stemming from growing supply chain disruptions and rising mortgage rates pushed new home sales lower in March. Sales of newly built, single-family homes in March fell 8.6 percent to a 763,000 seasonally...
multifamily property prices

Are multifamily property price rises cresting?

A new report from Real Capital Analytics (RCA) said that multifamily property prices rose 22.4 percent year-over-year in March and that they rose 1.1 percent from the month before. The annual rate of increase...

Rent delinquencies fall in latest Pulse Survey

The “Week 44” edition of the Census Bureau’s Pulse Survey has been released. It shows that the portion of renters who are behind on their rent payments dropped slightly since we last reported on...
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