Fannie Mae forecasts a downturn in 2023
Fannie Mae’s April economic and housing forecasts anticipate that rising interest rates will cause the U.S. economy to contract in the second half of 2023. While this is expected to reduce the number of...
Census reports strong multifamily housing construction stats in March
The Census Bureau’s new residential construction report for March showed high levels of multifamily permit issuance and rising unit starts. However, multifamily unit completions are not keeping pace resulting in an increase in the...
Housing market at inflection point as builder confidence continues to fall
Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability. Builder confidence in the market for newly built single-family homes...
Yardi Matrix reports on student housing outlook
Yardi Matrix recently presented an updated student housing outlook webinar. While the presentation covered the market as-a-whole, its main focus was on the Yardi 200, a group of top public and private universities that...
Unintended consequences of rent control
A study by the USC Marshall School of Business finds that the recent rent control initiative approved by voters in St. Paul Minn. negatively impacted property values for both renter- and for owner-occupied properties....
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...
Construction materials prices follow lumber higher
The Bureau of Labor Statistics (BLS) released its producer price index report for March 2022. It stated that construction materials prices were up 1.5 percent in the month, seasonally adjusted. The index was 23.2...
Modest gains seen for senior housing
A pair of reports, one from CBRE and one from NIC Map Vision, show that the senior housing market has made modest improvements as it recovers from the sharp downturn in occupancy it experienced...
What happens to CRE prices as interest rates rise?
A recent report from Trepp seeks to answer this question by looking at the history of commercial real estate (CRE) price appreciation. The report examined data on price changes in different interest rate environments...
Rent growth remains high in Yardi Matrix survey
Yardi Matrix reported that the national average apartment rent rose $14 in March to $1,642 per month. Rents growth moderates slightly The national average apartment rent was up 14.8 percent from its year-earlier level, a slightly...
Single-family drives residential construction spending higher
The Census Bureau’s report on construction spending shows that the value of residential construction put in place in February was up 1.1 percent from the revised level of the month before. Residential construction spending...
Multifamily employment grows in March
The latest Employment Situation Report from the Bureau of Labor Statistics stated that the number of residential construction jobs and of apartment operations jobs both rose for the month. Total employment grows The BLS reported that...
New Construction Quarterly Survey highlights longer delays and rising costs
The new NMHC Construction Quarterly Survey found that a majority (89 percent) of respondents reported experiencing construction delays, and, of those experiencing overall delays, 85 percent reported delays in both starts and permitting. Since almost...
Seniors housing sector rebounds as investor interest grows
Backed by strong long-term demand and increased investor interest, the seniors housing sector is now fully in recovery mode, according to JLL’s Valuation Advisory group’s fifth annual Seniors Housing Investor Survey and Outlook. The...
CoStar reports multifamily property prices still rising
A new report from CoStar says that the rate of growth in multifamily property prices declined in February while the prices of other commercial property actually fell month-over-month. CCRSI defined The CoStar report focuses on a...
