Fannie Mae updates 2021 and 2022 forecasts
Fannie Mae recently revised its economic outlook for 2021. The new forecast predicts significantly higher growth over the next two years than their last forecast from only one month ago. The economists at Fannie...
Multifamily industry responds to passage of COVID relief package
Congress passed a $900 billion pandemic relief package that would finally deliver long-sought cash to businesses and individuals and resources to vaccinate a nation confronting a frightening surge in COVID-19 cases and deaths. Lawmakers tacked...
RealPage to be acquired by Thoma Bravo
RealPage, Inc., a leading global provider of software and data analytics to the real estate industry, announced it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading private equity...
Mixed report on multifamily housing construction in November
The Census Bureau released its monthly new residential construction report for November 2020. It shows a pickup in multifamily housing construction permits and starts but a sharp fall in the rate of completions of...
Fannie Mae advances market readiness for new index rate
Fannie Mae highlighted the achievement of key milestones, as it continues advancing the mortgage market's readiness for the anticipated future cessation of LIBOR. Through external engagement, including participation on the Alternative Reference Rates Committee (ARRC) and...
NYC rent declines surpass those of the great recession
New York City rents have fallen more this year than they did during the Great Recession, according to StreetEasy's November 2020 Market Reports. Driven by the Covid-19 pandemic, Manhattan rents dropped the most out of the three boroughs...
Most new multifamily mortgage debt supplied by GSEs in Q3
A Mortgage Bankers Association (MBA) report on the level of outstanding commercial and multifamily mortgage debt shows that the GSE's increased their already dominant share of this debt in Q3. The MBA reported that multifamily...
Escaping the city: America’s hottest neighborhoods of 2021
Resort towns and suburbs like California's Lake Tahoe and New Jersey's Washington Township are gaining ground with homebuyers as major coastal cities like San Francisco and Philadelphia offer fewer benefits during the pandemic, according...
RealPage looks back at 2020
RealPage recently held a webinar where they took a look-back at 2020, reviewing the impacts of the pandemic on the multifamily housing market and on the broader economy. Presenting were Greg Willett, Chief Economist,...
Construction materials prices lower as lumber falls
The Bureau of Labor Statistics (BLS) released its producer price index report for November 2020. It showed that the BLS price index of materials and components for construction was down 0.3 percent from October,...
Multifamily property prices rise in October
Recent reports from CoStar and from Real Capital Analytics (RCA) show that multifamily property prices continued to increase in October. Defining the indices The CoStar report focuses on a relative measure of property values called the...
Rents fall in November
A pair of reports, one from Yardi Matrix and one from Apartment List, track changes in rents charged across the country. The reports show rents declining slightly for the country as-a-whole. However, they both...
Jobs market continues slow improvement
Two recent reports from the Bureau of Labor Statistics (BLS) describe the current labor situation. They are the Employment Situation Report for November and the Job Openings and Labor Turnover (JOLT) report for October....
Rent Payment Tracker: Payments down 7.8% from last month
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 75.4 percent of apartment households made a full or partial rent payment by December 6 in its survey of 11.5 million units of professionally...
SFR home market continues to feel effects of housing constraints
Ongoing supply constraints in America’s housing market continued to drive demand for single-family rental homes in the third quarter of 2020. Fueled by growing numbers of individuals and families transitioning away from urban residential...
