12 percent of multifamily mortgage balances mature in 2024
Twenty percent ($929 billion) of the $4.7 trillion of outstanding commercial and multifamily mortgages held by lenders and investors will mature in 2024, a 28 percent increase from the $729 billion that matured in...
Water management is elemental
Since California got a hose-in-the-sky rain this week, it is a good time for us to think about water. Right now, California has loads of water, possibly more than its infrastructure was designed to...
Rent declines stabilize while Midwest markets outperform
Apartment rent growth is expected to remain stagnant near zero this year, just as it has since August 2023, according to RealPage Analytics. RealPage SVP and Chief Economist Jay Parsons explained that...
Yardi Matrix sees changing mix in multifamily starts
A new report from Yardi Matrix examines the changes in the number of multifamily starts and the sorts of developments started over the last 10 years. It takes a broad view of multifamily housing...
Multifamily property prices still falling, but more slowly
CoStar reported that its value-weighted index of multifamily property prices fell 0.4 percent month-over-month in December 2023, the fourth decline in a row. This index was down 10.7 percent year-over-year. The value-weighted index of non-multifamily...
Multifamily construction spending ticks higher in December
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in December was up 0.3 percent from the revised level of the month before. Spending on...
Multifamily employment reported to rise in January
The Employment Situation Report from the Bureau of Labor Statistics stated that January employment levels in 3 of the 4 multifamily-related job categories we track rose from the revised levels of the previous month. Overall...
Weather predictions and utility expenses
I know that everyone loves a good groundhog prediction. I mean, what is not to love about a large burrowing rodent telling you what the weather will be (with greater accuracy than the Farmer’s...
NMHC survey reveals rise in rental fraud
A recent survey of rental housing providers by the National Multifamily Housing Council found that rental application, financial and identity fraud are increasing throughout the nation, fueled by social media platforms that...
Vacancy rate unchanged as more households rent in Q4
The Census Bureau released its quarterly report on home ownership and occupancy for Q4 2023. It stated that the rental housing vacancy rate was 6.6 percent, unchanged from its level in Q3 but up...
Rent growth in winter chill
The latest rent report from Apartment List shows that the national median monthly rent growth in January was -0.3 percent. Year-over-year rent growth was -1.0 percent. Apartment List reported the national median apartment rent to...
Multifamily jobs on the rise in December
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in December was 9.03 million. This was reported to be up 101,000...
SFR rent growth rate edges higher in November
CoreLogic reported that their single-family rent index (SFRI) for November rose 2.7 percent from its year-earlier level. This is up from the 2.5 percent year-over-year rent growth reported last month. This increase marks a...
MSCI: Multifamily property prices unchanged
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices in December were statistically unchanged from their level of the month before, breaking a string of 16 monthly...
Office-to-apartment conversions gather steam
Office-to-apartment conversions gather steam as developers seek adaptive reuse as a way to fix pandemic-related problems in the office market. Adaptive reuse of office buildings has become so popular, CoStar dubbed 2023...
