NMHC, NAA release apartment industry’s 2023 policy priorities
The nation's housing supply imbalance and related affordability issues top the list of 2023 apartment industry policy priorities released by the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA). Specific issues of concern...
Rent control hurts housing supply, new research finds
New research from the National Apartment Association (NAA) highlights the unintended and detrimental consequences of rent control. The research, conducted by NDP Analytics and commissioned by NAA, shows that a staggering 70 percent of...
NAHB releases salary, bonus and benefit data for 39 jobs across the home building...
Throughout the economy and across all sectors, millions of people have quit their jobs looking for better work-life balance, benefits, location or pay—a phenomenon now commonly referred to as the Great Resignation. These challenges...
Response to reinstatement of 2013 version of Disparate Impact Regulation
Statement from the National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC) on the U.S. Department of Housing and Urban Development (HUD) reinstating a 2013 version of disparate impact regulation: “NAA and NMHC...
California rent control – round 3?
A new rent control initiative, titled the Justice for Renters Act, has been cleared by the California Attorney General to begin the process of collecting enough signatures to qualify it for the ballot. Update May...
Multifamily construction activity surges in February
The Census Bureau’s new residential construction report for February reported that the number of multifamily permits, starts and completions were all up significantly for the month. Once again, there were more starts than completions...
Single-family starts remain lackluster, but expected to begin sustained rebound later this year
Single-family production remained at an anemic pace in February as builders continue to wrestle with elevated mortgage rates, high construction costs and tightening credit conditions that threaten to be exacerbated by recent turmoil in...
Senators ask DOJ to investigate revenue management software
Senator Elizabeth Warren (D-Mass.) along with senators Ed Markey (D-Mass.), Tina Smith (D-Minn.) and Bernie Sanders (I-Vt.) have asked the Department of Justice (DOJ) to investigate RealPage’s YieldStar revenue management product for “facilitating de-facto...
Construction materials prices reported flat
The February producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were unchanged in the month, seasonally adjusted. The index of components and materials for construction...
Cap rate expansion likely to continue but may peak later in 2023
Capitalization rate expansion is likely to continue in the short-term for most real estate asset types, but could peak later this year and should decrease in 2024 as the end of the Federal Reserve’s...
Rent growth in winter freeze
Yardi Matrix reported that national average apartment rent growth was flat again in February with rents remaining unchanged from January’s revised level at $1,702 per month. Year-over-year rent growth rates sliding The national average asking apartment...
Builder confidence edges higher in March but future outlook uncertain
Although high construction costs and elevated interest rates continue to hamper housing affordability, builders expressed cautious optimism in March as a lack of existing inventory is shifting demand to the new home market. Builder confidence...
Multifamily employment rises in February
The Employment Situation Report from the Bureau of Labor Statistics stated that both residential construction employment and apartment operations employment rose in the latest month. Job growth continues The Bureau of Labor Statistics (BLS) reported that...
Multifamily loan delinquencies edge higher
Three reports, two from Trepp and one from the Mortgage Bankers Association (MBA) show that loan delinquencies and other signs of stress are growing for commercial mortgages, although from low levels in the case...
Builders warn Congress WOTUS rule will raise housing costs
Congress received a first-hand account of how the Biden administration’s new waters of the United States (WOTUS) rule is exacerbating the nation’s housing affordability crisis by making home building more inefficient and costly, while...
