Thursday, March 28, 2024

Apartment watch

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

miami leads rent growth

Solid rent growth reported by Yardi Matrix

Yardi Matrix reported that the national average apartment rent growth was $19 in May, bringing the average rent to $1,680 per month. Rent growth rate down from record levels The national average apartment rent was up...
construction employment multifamily employment

Multifamily jobs numbers continue to improve

The latest Employment Situation Report from the Bureau of Labor Statistics stated that employment in both categories of residential construction jobs and in one of two categories of apartment operations jobs we track rose...
residential housing construction

Residential construction spending higher in April

The Census Bureau’s report on construction spending shows that residential construction  spending in April was up 0.9 percent from the revised level of the month before. Residential construction spending was up 18.4 percent year-over-year. Single-family...
apartment price growth

CoStar reports multifamily property prices move higher

CoStar reported that multifamily property prices rose in April after slight declines in each of the 2 previous months. CCRSI defined The CoStar report focuses on a relative measure of property prices called the CoStar Commercial...

Rent growth rate up in May

The latest rent report from Apartment List shows that the national average rent rose in May. Rent growth was 1.2 percent month-over-month and 16.4 percent year-over-year. The history of rent changes for the 6 years...
job openings hiring

Job openings remain high in April

The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings declined in April from the record high hit last month, but remained...
commercial property prices

Multifamily property prices rise at near-record pace

A new report from Real Capital Analytics (RCA) said that multifamily property prices rose 23.0 percent year-over-year in April and that they rose 1.3 percent from the month before. The annual rate of increase is...
solar panels for renewable energy

ULI gives guide to going green

The Urban Land Institute (ULI) recently released a report titled Renewable Energy Strategies for Real Estate. The report provides an introduction to different approaches that commercial real estate owners and tenants are using to...
single-family rental home

Single-family rentals and the housing crunch

In the last two years, the single-family housing market has been hot, with high sales volumes, rising prices and low available inventory. Institutional investors buying up properties for conversion to single-family rentals (SFR) has...

Emergency Rental Assistance update

The latest report by the U.S. Department of the Treasury states that, as of the end of March, 74 percent of the $25 billion in emergency rental assistance funds allocated under the Consolidated Appropriations...
slow economy

Fannie Mae forecasts a slowing economy

Fannie Mae’s latest economic forecast calls for lower GDP growth and higher inflation in 2022 than in earlier forecasts. Their new housing forecast predicts multifamily housing starts to be higher in 2022 but lower...

Confidence in multifamily housing weakens in first quarter of 2022

Confidence in the market for new multifamily housing turned downward in the first quarter of 2022, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders...
pulse survey rent delinquencies

Rent delinquencies rise in latest Pulse Survey

The “Week 45” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments has grown since we last reported on this survey. What is the...
apartment construction

Multifamily housing construction starts boom

The Census Bureau’s new residential construction report for April showed continued high levels of multifamily housing construction permit issuance and unit starts, but unit completions declined, resulting in another increase in the number of...
multifamily property price appreciation

Yardi Matrix studies multifamily property price appreciation

A recent report from Yardi Matrix examined the price appreciation seen over the last decade for multifamily properties which were resold frequently. These tended to be Class B and Class C properties targeted for...
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