Multifamily mortgage debt outstanding rises in Q1
A Mortgage Bankers Association (MBA) report on commercial and multifamily mortgage debt shows that banks and thrifts again had the largest net increase in multifamily mortgage holdings in Q1 2022. This is the second...
Fannie and Fed furnish falling forecasts
The latest forecasts from Fannie Mae and from the Federal Reserve foresee higher inflation than in earlier forecasts. They predict that rising interest rates will slow the economy, although they disagree on how much. Fannie...
Multifamily housing construction starts plunge in May
The Census Bureau’s new residential construction report for May showed softening in multifamily permit issuance and a drop in unit starts. Unit completions rose during the month but still trailed unit starts resulting in...
What drives rent growth?
A new report from Yardi Matrix seeks to answer this question and to examine how the factors driving rent growth have changed since the onset of the COVID pandemic. Identifying the factors The report looked at...
More than 600 builders urge Congress to take action to ease the housing affordability...
More than 600 builders from across the nation trekked to Capitol Hill for the National Association of Home Builders (NAHB) 2022 Legislative Conference to spotlight the growing housing affordability crisis that threatens to derail...
NAHB urges Congress to take steps to get more women in the workforce
To get more women working in the residential construction sector and overall workforce, lawmakers must pursue flexible, targeted and incentive-based strategies to tackle the high cost of childcare and availability of paid leave, the...
Weakening builder confidence points to economic troubles ahead
Rising inflation and higher mortgage rates are slowing traffic of prospective home buyers and putting a damper on builder sentiment. In a troubling sign for the housing market, builder confidence in the market for...
Construction materials prices continue to surge
The Bureau of Labor Statistics (BLS) released its producer price index report for May 2022. It stated that construction materials prices were up 1.1 percent in the month, seasonally adjusted. The index was 18.2...
Ginnie Mae MBS portfolio growth surpasses $2.2 trillion
Ginnie Mae guaranteed more than $49 billion in mortgage-backed securities (MBS) in May 2022, helping support affordable homeownership and rental unit development for more than 170,000 households. The May issuance takes the overall outstanding...
Apartment List reports on apartment vacancy rates
In its inaugural report on apartment vacancy rates, Apartment List states that the national average rate rose to 4.95 percent in May. This is up 0.6 percent from the year-earlier value and up 0.9 percent...
New research shows regulations account for 40.6 percent of apartment development costs
Regulation imposed by all levels of government accounts for an average of 40.6 percent of multifamily development costs, according to new research released today by the National Association of Home Builders (NAHB) and the...
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...
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 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...
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...
