Forecasts predict slower growth, higher inflation
A pair of economic forecasts, one from Fannie Mae and one from the Federal Reserve project lower growth and higher inflation for the rest of 2021 than did earlier forecasts by the same agencies. Fannie...
RCA: Multifamily property prices up in August
A report from Real Capital Analytics (RCA) said that multifamily property prices rose 13.5 percent in the year to August. This is the highest annual rate of price appreciation seen for this asset class...
New NMHC construction survey finds record impact on availability of construction labor
A record 93 percent of multifamily developer respondents reported construction delays in the jurisdictions where they operate, according to the eighth edition of the National Multifamily Housing Council (NMHC) Construction Survey. Of this group, 83...
Rent delinquencies up slightly in September surveys
The “week 37” release of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments is up slightly since we last reported on this survey, rising...
HUD awards $143 million in grants to support construction and project rental assistance for...
The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs announced on Wednesday that it has awarded $143 million in grants to non-profit organizations across the country to support the...
Upzoning coming to California
California Governor Newsom recently signed a series of bills seeking to address the shortage of housing in the state. The bills. SB-8, SB-9 and SB-10 give local governments additional authority to upzone for higher...
Multifamily housing construction pipeline grows
The Census Bureau’s new residential construction report for August reported a surge in multifamily housing construction permits and starts, although completions continued to lag. Multifamily housing construction permits hit multi-year high The number of permits issued...
Builder confidence steadies as material and labor challenges persist
Builder confidence inched up in September on lower lumber prices and strong housing demand, even as the housing sector continues to grapple with building material supply chain issues and labor challenges. Ending a three-month decline, builder sentiment...
HUD announces $180+ million in COVID-19 funding for multifamily owners
The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs announced that it is opening a new application period for owners of Multifamily properties participating in assisted housing programs to...
CBRE: Foreign investment in multifamily lower in 2021
A new report from CBRE found that both the dollar value of foreign investment in multifamily properties as well as foreign investment’s share of total investment fell during the first half of 2021. Total foreign...
ULI Foundation announces $1 million gift to launch effort to decarbonize cities
The Urban Land Institute (ULI), a global research and education organization focused on shaping the future of the built environment for transformative impact in communities worldwide, has received a major gift that will support...
Construction materials prices up despite lumber price declines
The Bureau of Labor Statistics (BLS) released its producer price index report for August 2021. It showed that construction components and materials prices were up 0.2 percent in the month, seasonally adjusted. The index...
Nation’s apartment industry testifies before the House Committee on financial services
On behalf of the nation’s rental housing industry, the National Apartment Association (NAA) and National Multifamily Housing Council (NMHC), David Schwartz, Chairman and CEO of Waterton and Chair of NMHC testified before the House...
Mortgage payments for new homebuyers are rising faster than rents
The national median monthly mortgage payment for homebuyers rose 67 percent faster than rents during the same period, according to a new report from Redfin, the technology-powered real estate brokerage. This is despite mortgage interest...
Yardi Matrix reports record rent growth
The latest rent report from Yardi Matrix shows record growth in multifamily asking rents for the country as-a-whole in August, with SFR rent growth outpacing that of multifamily. Rents up sharply again Yardi Matrix reported that...
