Jobs coming back, but slowly
The Bureau of Labor Statistics (BLS) recently released its Job Openings and Labor Turnover (JOLT) report for June. It shows that the jobs market is continuing to recover from the COVID-19 induced shutdowns, but...
93.3 percent of apartment households paid rent as of July 27
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 93.3 percent of apartment households made a full or partial rent payment by July 27 in its survey of 11.4 million units of professionally...
Multifamily property prices down in April as transactions plunge
CoStar reported that its value-weighted index of multifamily property prices fell 12.2 percent year-over-year in April. This index was down 1.4 percent month-over-month.
While last month’s report indicated that multifamily property prices had risen in...
Response to reinstatement of 2013 version of Disparate Impact Regulation
Statement from the National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC) on the U.S. Department of Housing and Urban Development (HUD) reinstating a 2013 version of disparate impact regulation:
“NAA and NMHC...
Multifamily housing construction starts boom
The Census Bureau’s new residential construction report for April showed continued high levels of multifamily housing construction permit issuance and unit starts, but unit completions declined, resulting in another increase in the number of...
Multifamily property prices break string of declines
CoStar reported that its value-weighted index of multifamily property prices rose 1.3 percent month-over-month in September 2023, the first gain in 14 months. However, this index was still down 16.6 percent year-over-year.
The value-weighted index...
Commerce Secretary pledges full support of Biden administration to resolve lumber issue
Commerce Secretary Gina Raimondo today during a meeting with the National Association of Home Builders' (NAHB) senior officer team acknowledged the depth of the lumber price crisis and its effects on the residential construction industry, home buyers...
HUD to issue rule protecting tenants facing evictions for non-payment of rent in HUD-assisted...
The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced that it will publish a rule that prohibits the eviction of tenants facing eviction for nonpayment of rent from HUD-subsidized public housing...
Yardi Matrix reports rents continue to fall at year end
Yardi Matrix reported that national average apartment rents fell $4 in December, compared to the level of the month before. The average rent fell to $1,709 per month. The national average year-over-year apartment asking rent...
Rent growth in spring thaw
Yardi Matrix reported that national average apartment rent increased $3 in March to $1,702 per month. This follows two months where Yardi Matrix had reported no rent growth.
Year-over-year rent growth slide continues
The national average...
Job openings rebound in August
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in August was 9.61 million, up 690,000 openings month-over-month. In addition, last...
Housing groups file legal challenge to new WOTUS rule
NMHC joined 16 other housing groups, infrastructure and agricultural organizations, among others, in filing suit yesterday to challenge the recently released Waters of the U.S. (WOTUS) rule.
As noted in a statement published earlier this month,...
Zillow’s hot housing takes for 2023
Midwestern markets will heat up, and more friends and family members will pool their money to buy homes together in 2023, as people look for new ways to overcome the housing affordability crisis. However,...
EPA announces new WOTUS rule
On August 29 EPA issued a revised final rule updating their definition of “waters of the United States” (WOTUS). The revision was made in response to the Supreme Court’s May decision in the case...
Multifamily jobs increase in October
The latest Employment Situation Report from the Bureau of Labor Statistics stated that both residential construction jobs and apartment operations jobs saw gains for the month.
Total employment growth meets expectations
The BLS reported that employment...
