Multifamily job openings rise in August despite overall openings plunge
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings fell in August from last month’s level despite last month’s job openings...
BEA reports on housing inflation
The Bureau of Economic Analysis released its report on personal consumption expenditures (PCE) for the month of August. The overall PCE price index rose 0.3 percent for the month and 6.3 percent from the...
Multifamily residential construction spending steady in August
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in August was up 0.4 percent month-over-month despite overall residential construction spending falling by 1.0 percent. Multifamily...
Costar says multifamily property prices down for second month
CoStar reported that its value-weighted index of multifamily property prices fell 1.4 percent month-over-month in August after a revised fall of 0.5 percent the month before. The index increased 15.2 percent year-over-year. The combined value-weighted...
Construction delays are ongoing as most costs continue to rise
This month's NMHC Construction Survey found that 90 percent of respondents reported construction delays, with 78 percent of this group reporting delays in permitting and 86 percent experiencing start delays. Notably, an increasing share...
Streamlining inspections of affordable housing in California
The California State Legislature recently passed, and Governor Newsom signed, AB 2006, a bill to eliminate duplication in the inspection of affordable housing projects in the state. The bill was sponsored by Assemblyman Marc...
Fannie Mae launches rent payment reporting program to help renters build credit
Fannie Mae announced the launch of its Multifamily Positive Rent Payment Reporting pilot program, aimed at helping renters build their credit history and improve their credit score. Beginning September 27, 2022, eligible multifamily property owners can share...
Rents fall in September
The latest rent report from Apartment List shows that the national average rent growth turned negative in September. Rents fell 0.2 percent month-over-month but still rose 7.5 percent year-over-year. The month-over-month decline was only...
Housing group announces settlements with three Southern California cities, three new lawsuits over failure...
Californians for Homeownership, a nonprofit organization sponsored by the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) that aims to address California's housing crisis through impact litigation, announced that it has filed lawsuits against the cities of Claremont, Fullerton and...
Rate of multifamily property price growth continues to fall
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices rose 17.1 percent year-over-year in August and that they rose 0.1 percent from the month before. Both rates...
Multifamily mortgage debt rises in Q2 despite cuts
A Mortgage Bankers Association (MBA) report on commercial and multifamily mortgage debt holdings in Q2 2022 shows that banks and thrifts had the largest net increase in multifamily mortgage holdings for the third quarter...
Rising rates drive Fannie and Fed forecasts
The latest forecasts from Fannie Mae and from the Federal Reserve relate the impact that the rapid rise in interest rates is expected to have on the economy. Fannie Mae issues a monthly forecast for...
BLS looks at housing leases
In October 2020, the Bureau of Labor Statistics (BLS) added two questions about housing leases to the survey used to determine the consumer price index (CPI). The questions asked about the origination date of...
Multifamily housing construction permits fall while starts rise
The Census Bureau’s new residential construction report for August was the reverse of last month’s report with multifamily housing construction permits and completions falling sharply while starts jumped. In single-family housing construction, the changes from...
IRR updates its Viewpoint
Intergra Realty Resources (IRR) released its 2022 Mid-Year Viewpoint Summary, an update to its annual Viewpoint report. Unlike the year-end report, the update does not discuss the state of the US economy but rather...