ULI economic forecast sees improvement
The Urban Land Institute (ULI) recently released its biannual economic forecast. It has a more positive outlook for the economy and for the multifamily housing industry than did their last forecast of 6 months...
Rent delinquencies continue to fall in May Pulse survey
The week 29 release of the Census Bureau’s Pulse Survey shows that the portion of renters who are current on their rent payments is up since we last reported on the survey results. What is...
Multifamily construction sentiment improves in first quarter of 2021
Confidence in the market for new multifamily housing increased in the first quarter of 2021, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces...
Investor home purchases rise for first time in a year as U.S. economy bounces...
U.S. home purchases by investors rose 2.7 percent year over year in the first quarter, marking the first period of growth since the coronavirus pandemic began, according to a new report from Redfin, the...
Multifamily housing construction continues strong in April
The Census Bureau released its monthly new residential construction report for April 2021. It reported that permits, starts and completions all remained at high levels. Multifamily housing construction permits remain strong The number of permits issued...
NMHC and NAA statement on the introduction of the Yes in My Backyard (YIMBY)...
Statement from the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA) on the introduction of the Yes in My Backyard (YIMBY) Act: NMHC and NAA are pleased to see the introduction of the...
Construction materials prices higher again in April
The Bureau of Labor Statistics (BLS) released its producer price index report for April 2021. It showed that construction materials prices were up 2.1 percent in the month, seasonally adjusted. The construction materials price...
Multifamily mortgage originations down year-over-year in Q1
A report from the Mortgage Bankers’ Association (MBA) says that originations of multifamily mortgages were down in Q1 compared to the same quarter in 2020. Multifamily mortgage lending down The first chart, below, shows the quarterly...
Job openings up in March
The Bureau of Labor Statistics (BLS) recently released the Job Openings and Labor Turnover (JOLT) report for March. It shows that the labor market rebounded from a rocky February to return to job growth. Defining...
Rents jump in April
The latest rent reports from Yardi Matrix and Apartment List show strongly positive rent growth for the country as-a-whole in April. Rents up strongly Yardi Matrix reported that the national average apartment rent rose $10 in...
Jobs market growth disappoints in April
The latest Employment Situation Report from the Bureau of Labor Statistics shows that jobs categories of interest to builders and operators of multifamily housing eked out employment gains in April. Growth in total employment slows The...
Gov. Newsom announces plan to pay rental housing providers 100 percent of rent owed
Gov. Newsom announced his intent to pay rental housing providers 100 percent of rent that’s gone unpaid because of COVID-19. “This is certainly welcome news, and we applaud Gov. Newsom for his commitment to making...
Rent Payment Tracker: Payment rates remain the same as last month
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 80.0 percent of apartment households made a full or partial rent payment by May 6 in its survey of 11.7 million units of professionally...
Residential construction spending mixed in March
The Census Bureau’s report on construction spending shows that the value of residential construction put in place in March was up 1.7 percent from February’s level despite a small drop in the multifamily category....
CDC eviction ban struck down nationwide
On May 5, federal judge Dabney Friedrich ruled in the case of Alabama Association of Realtors v. U.S. Department of Health and Human Services that the CDC cannot enforce its eviction moratorium. Unlike previous...