Multifamily construction spending continues slow rise
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in April was up 0.6 percent month-over-month. Spending on single-family continued to fall while spending on...
FHFA requests input on multifamily tenant protections
On May 30, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on tenant protections at multifamily properties with mortgages backed by Fannie Mae and Freddie Mac (the Enterprises). Through their role...
Rent growth rate flat in May
The latest rent report from Apartment List shows that the national average monthly rent growth in May was a positive 0.5 percent, unchanged from last month’s increase. Year-over-year rent growth was 0.9 percent. Both...
JOLT data shows job openings rebound
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in April was 10.10 million, up 358,000 openings from last month’s revised...
Multifamily property prices down in April as transactions plunge
CoStar reported that its value-weighted index of multifamily property prices fell 12.2 percent year-over-year in April. This index was down 1.4 percent month-over-month. While last month’s report indicated that multifamily property prices had risen in...
Industry associations respond to Supreme Court WOTUS ruling
In Sackett v. EPA, the Supreme Court ruled 9-0 that the Clean Water Act only applies to wetlands that have a continuous surface connection to bodies that are waters of the United States (WOTUS)....
Multifamily property prices again lead decline
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 1.5 percent in April from their level of the month before. While this was again the largest...
Rent delinquencies edge higher in latest Pulse Survey
The “Week 57” edition of the Census Bureau’s Pulse Survey shows that the portion of renters with rent delinquencies rose to 13.8 percent, up from the 13.1 percent reported in the "Week 56" survey...
CoreLogic reports declining SFR rent growth
CoreLogic reported that their single-family rent index (SFRI) for March rose 4.3 percent from its year-earlier level, the lowest single-family rent growth rate since April 2022. Tracking the changes The recent history of the overall SFRI...
Lack of resales provides boost to new home sales in April
Stabilizing mortgage rates and a lack of resale inventory provided a boost for new home sales in April, even as builders continue to wrestle with rising costs stemming from shortages of transformers and other...
Housing Affordability Coalition statement on congressional letter on housing policy solutions
19 national real estate associations joined together to release a letter to policymakers urging Congress to work with the Biden Administration, housing providers, lenders and other stakeholders to pursue bipartisan solutions to increase the...
Fannie Mae sees higher multifamily housing starts in 2023
Fannie Mae’s May economic and housing forecast reduces the depth of the predicted downturn in multifamily housing starts. It also delays the start of the downturn but leaves the timing of the recovery largely...
Two-year pilot program confirms need for mental health resources in construction
A pilot program focused on mental health issues in the residential construction industry recently confirmed the need for a more deliberate and permanent effort to reduce the stigma of discussing mental health within the...
NAHB launches revised multifamily market survey
The National Association of Homebuilders (NAHB) has introduced a pair of new indexes assessing sentiment within the multifamily industry. These new indexes are a redesigned version of NAHB’s Multifamily Market Survey. Creating the scale The surveys...
Multifamily construction permits and completions fall
The Census Bureau’s new residential construction report for April stated that the number of multifamily construction permits issued and unit completions were down for the month while starts were unchanged from the level reported...
