Class B rents soften, drive renter flight to quality
The recent flood of new multifamily deliveries is softening Class B rents in submarkets with high supply more than any other asset class, driving a renter flight-to-quality, according to data from RealPage....
Construction employment higher in January
The Employment Situation Report from the Bureau of Labor Statistics stated that both residential construction employment and apartment operations employment edged higher in the latest month.
Note that this report incorporates revisions to population estimates...
HUD takes a major step to improve health and safety inspections
The U.S. Department of Housing and Urban Development (HUD) announced another step to overhaul the Department’s 20-year-old inspection process to ensure taxpayer-supported housing is healthy and safe. HUD is launching a new demonstration to...
NMHC and NAA statement on President Biden’s address to Congress
Statement from the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) on President Biden’s address to the joint session of Congress.
NMHC and NAA applaud President Biden, his administration and lawmakers in...
Construction headwinds pick up in January
Housing production softened in January as rising lumber prices continue to affect the housing industry. Overall housing starts decreased 6.0 percent to a seasonally adjusted annual rate of 1.58 million units, according to a report from the...
Multifamily property prices rise at high but declining rate
The latest commercial property price report from MSCI (formerly Real Capital Analytics) said that multifamily property prices rose 20.9 percent year-over-year in July and that they rose 0.9 percent from the month before. Both...
Emergency Rental Assistance funds still flowing
A recent report by the U.S. Department of the Treasury states that, as of the end of January 2022, 69 percent of the $25 billion in emergency rental assistance funds allocated under the Consolidated...
Rents and transactions continue to fall
Apartment market conditions weakened in the National Multifamily Housing Council’s (NMHC) Quarterly Survey of Apartment Market Conditions for January 2023, as the Market Tightness (14), Sales Volume (10), Equity Financing (20), and Debt Financing...
Property managers can impact rent payment
The national COVID-19 Resident Sentiment Report released by Grace Hill reveals that many more renters are unsure about their ability to pay May rent as the economic impact of COVID-19 is fully felt. But, property...
Residential construction spending shifts to improvements
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in September was up 0.3 percent month-over-month. Spending on single-family fell, with spending on improvements rising...
Job openings and quits set records in March
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings hit a new record high at the end of March. Hiring was...
Freddie Mac Multifamily to extend COVID-19 forbearance program
Freddie Mac has extended to March 31, 2021 the deadline for requesting a new or supplemental COVID-19 forbearance agreement for its Multifamily loans. The program was previously set to terminate at the end of 2020....
CBRE sees slower lending in Q1
A recent report from CBRE says that their commercial mortgage lending momentum index fell in Q1, dropping 33 percent quarter-over-quarter and 53.5 percent year-over year.
Dividing the market
Unlike reporting from the Mortgage Bankers Association, CBRE...
Builder confidence uptick signals turning point for housing lies ahead
A modest drop in interest rates helped to end a string of 12 straight monthly declines in builder confidence levels, although sentiment remains in bearish territory as builders continue to grapple with elevated construction...
Rents fall for first time since 2008
After three years of double-digit increases, apartment rents declined in May for the first time in 15 years according to Rent.com. Now in the ninth month of deceleration, with rent growth averaging less than...
