Multifamily fundamentals are strong in 2024, despite uncertainties
The 2024 apartment market forecasts are in and despite twists, turns and uncertainties, multifamily fundamentals are strong.
In December, the Apartment List Research Team released its Seven Predictions for the 2024 Rental...
How many housing units does California need by 2025?
A McKinsey study estimated California’s housing shortfall at 3.5 million units by 2025. Providing these units has been the stated goal of Governor Newsom and of the California State Legislature. A study by the...
Construction materials prices move higher
The Bureau of Labor Statistics (BLS) released its producer price index report for November 2021. It showed that construction components and materials prices were up 1.6 percent in the month, seasonally adjusted. The index...
Multifamily housing construction rebounds in July
The Census Bureau released its monthly new residential construction report for July 2020. It shows a strong rebound in multifamily housing construction.
Permits up strongly
The number of permits issued for buildings with 5 or more...
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...
New housing laws coming to California
The 2020 legislative session in California saw the consideration of at least 9 significant bills intended to address the state’s housing deficit. When the session ended at midnight on August 31, only two of...
Multifamily at mid-year
Yardi Matrix released its Summer 2023 U.S. Multifamily Outlook report. It examines the multifamily housing business by looking at 4 factors driving it: the economy, rents, new supply and capital markets.
Economy
The economy has been...
White House plans new renter protections
The White House recently announced a series of actions that executive branch agencies will take to improve renter protections and “fairness” in the rental housing market. It also released a document called Blueprint for...
NMHC 50 recognizes industry’s top firms
The National Multifamily Housing Council (NMHC) released their 2022 list of the largest firms in the US multifamily housing industry. The firms are ranked by units in buildings with 5 or more units. The...
Marcus and Millichap assesses economic headwinds
Marcus & Millichap recently presented a webinar on its 2022 Outlook, which examined how the economy, inflation and Federal Reserve policy are impacting the commercial real estate market. Presenters were Hessam Nadji, President and...
Costa Mesa adds housing through rehabs
As part of a statewide initiative to remediate its housing shortage, the state of California has mandated that the city of Costa Mesa zone for 11,760 new units of housing by 2029. To this...
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...
Rent growth falls in December
Yardi Matrix reported that national average apartment rent growth turned negative in December with rents falling $4 from November’s revised level to $1,715 per month.
YoY rent growth rate slide continues
The national average asking apartment...
Rent delinquencies down slightly in Pulse Survey
The “Week 52” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments fell slightly to 13.3 percent, down from the 13.7 percent reported...
Rent delinquencies stabilize in latest Pulse Survey
The “Week 56” edition of the Census Bureau’s Pulse Survey shows that the portion of renters with rent delinquencies rose to 13.1 percent, up from the 12.4 percent reported in the Week 55 survey...
