Rent growth slows in November
The latest rent report from Apartment List shows only marginal rent growth month-over-month in November. Nationally, rents rose 0.1 percent for the month, although they were up 17.7 percent year-over-year. Rent increases The first chart, below,...
CoStar reports multifamily property price rise slowing
A new report from CoStar says that multifamily property prices continued their recent rise in October, although the rate of price gains has moderated recently. CCRSI defined The CoStar report focuses on a relative measure of...
Residential construction spending reported down in October
The Census Bureau’s report on construction spending shows that the value of residential construction put in place in October was down 0.5 percent from the revised level of the month before. However, spending was...
Property owner sues East Orange, New Jersey, for stealing $80,000 in equity
An East Orange property owner filed a lawsuit challenging a state tax scheme that allowed the city to take her entire property for paying taxes late, or roughly $80,000 more than she owed. Lynette Johnson...
Statement from NAHB Chairman Chuck Fowke on Sen. Capito’s Clean Water Act Legislation
Chuck Fowke, chairman of the National Association of Home Builders (NAHB) and a custom home builder from Tampa, Fla., issued the following statement on Sen. Shelley Moore Capito's (R-W.Va.) legislation to codify the 2020 Clean Water Act...
Move to double lumber tariffs is a gut punch to American home buyers, home...
Chuck Fowke, chairman of the National Association of Home Builders (NAHB) and a custom home builder from Tampa, Fla., issued the following statement after the U.S. Commerce moved forward with an administrative review to double the...
Multifamily property prices rise at record rate
A new report from Real Capital Analytics (RCA) said that multifamily property prices rose 16.8 percent year-over-year through October. This is the highest rate ever seen in their data set, which goes back to...
Fannie Mae lowers housing starts forecast
Fannie Mae’s November economic and housing forecasts call for fewer housing starts in 2021 than in earlier forecasts. However, the forecasts for housing starts in 2022 were revised modestly higher. Housing: less in the near...
Multifamily construction sentiment improves in third quarter, despite headwinds
Confidence in the market for new multifamily housing improved in the third quarter, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate...
Multifamily housing construction activity rises in October
The Census Bureau’s new residential construction report for October showed an uptick in multifamily housing construction activity from last month's relatively weak level. Multifamily housing permits issuance rebounds The number of permits issued for buildings with...
Quits set record in September
The Bureau of Labor Statistics (BLS) recently released the Job Openings and Labor Turnover (JOLT) report on the jobs market for September. It reported that the number of job openings fell slightly but quits...
Housing affordability holds steady but supply-side challenges persist
Housing affordability held steady at its lowest level in nearly a decade, as higher home prices offset lower mortgage rates to keep the affordability rate flat in the third quarter of 2021. However, ongoing supply-chain disruptions and...
Construction materials price rises resume in October
The Bureau of Labor Statistics (BLS) released its producer price index report for October 2021. It showed that construction materials prices were up 1.2 percent in the month, seasonally adjusted. The index of components...
Yardi Matrix reports apartment rents are still rising
The latest rent report from Yardi Matrix shows record high asking apartment rents for the country as-a-whole in October, with single family rental (SFR) rent growth again outpacing that of multifamily. Rents up sharply Yardi Matrix...
Rent Payment Tracker: Payments down slightly from last November
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 78.2 percent of apartment households made a full or partial rent payment by November 6 in its survey of 11.8 million units of professionally...
