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...
CBRE sees positives for multifamily housing market
CBRE recently released its report on the state of the multifamily housing market in Q1 2021. It found that the market stabilized after a challenging 2020. Operations turn the corner CBRE reported that rents rose 0.4...
Multifamily property prices see gains in Q1
Recent reports from CoStar and from Real Capital Analytics (RCA) show that multifamily property prices rose in the year to March. Defining the indices The CoStar report focuses on a relative measure of property prices called...
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...
HUD to resume public multifamily housing inspections in June
On Friday, April 23, U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge announced that HUD will substantially increase housing inspections, beginning on June 1, 2021. HUD’s inspections are instrumental in identifying...
Census reports occupancy shifts since pandemic
The Census Bureau released its quarterly report on home ownership and occupancy. It showed that the rental housing vacancy rate rose from 6.6 percent to 6.8 percent over the past year even as the...
Skyrocketing lumber prices add nearly $36,000 to new home prices
Soaring lumber prices that have tripled over the past 12 months have caused the price of an average new single-family home to increase by $35,872, according to new analysis by the National Association of Home Builders (NAHB)....
NRHC survey shows rental home property owners under stress
Results from a new nationwide survey of single-family rental home owners conducted by Seven Letter Insight on behalf of the National Rental Home Council (NRHC) reveal the extent of widespread economic challenges encountered over...
Report shows occupancy losses hit urban core
A recent study by Yardi Matrix examined occupancy results over the past 12 months from 78,000 properties representing 14.4 million units. It found that occupancy declines over the past year are severe in some...
March was a blowout month for multifamily housing construction
The Census Bureau released its monthly new residential construction report for March 2021. It reported that multifamily housing permits, starts and completions were all strong. Multifamily housing construction permits down but up The number of permits...
Builder confidence edges up as strong demand offsets supply-side challenges
Strong buyer demand pushed builder confidence up in April even as builders continued to grapple with rising lumber prices and supply chain issues and consumers faced higher home prices due to a lack inventory. The latest National...
April apartment market conditions show improvement
Apartment market conditions showed improvement in the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions for April 2021, as the industry begins to see signs of optimism. While the Sales Volume (77)...
