Multifamily construction spending revised higher
The Census Bureau’s report on construction spending indicated that the value of multifamily residential construction put in place in April fell again. However, unlike in recent reports where revisions were to the downside, the...
Trump’s GSE reform plan back on the table
After more than 16 years under federal conservatorship, Fannie Mae and Freddie Mac—two government-sponsored enterprises (GSEs) critical to the U.S. housing finance system—may finally be released under a renewed push by the...
A look at maturity dates on affordable multifamily mortgages
A new report from Yardi Matrix looks at upcoming loan maturities on affordable multifamily properties. It finds that these loans typically have longer terms than do those on market-rate properties.
Defining the focus
The report looks...
Year-over-year rent growth remains negative in May
The latest rent report from Apartment List shows that the national median monthly rent growth in May was 0.39 percent. Rents have now risen for 4 months in a row, which is typical for...
Communicate the big 3 of recycling
Growing up in unincorporated Fresno (the part of Fresno that Fresno apparently did not want), we had a tremendous number of fruit trees: lemon, orange, tangerine, grapefruit, plum, nectarine, peach, and pomegranate. I loved the...
Multifamily CMBS special servicing rate rises in April
Trepp reported that the special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans moved modestly higher in April, reversing its fall in the month before. The overall CMBS special servicing rate on commercial...
Free or not free
When I was very young my parents had an agitated conversation in our tiny kitchen which made my gut hurt: My dad was out of shaving cream. Shaving cream was on sale at the...
MSCI: Multifamily property prices head lower
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices were down 0.4 percent month-over-month in April compared to the revised level of the month before. Prices were...
Staying power: rent renewals boost multihousing stability
Something’s shifting in the rental market and it's good news for operators. Despite more apartments coming online, surging rent renewals are keeping the rental market very competitive.
In May 2025, apartment lease renewals...
Multifamily starts forecast continues to rise
Revisions to Fannie Mae’s housing forecast in May call for more multifamily starts across the entire forecast horizon than in last month’s forecast. Fannie Mae is now predicting 371,000 starts in 2025 with 396,000...
EPA drops ESPM: prepare for the worst
Many of you have likely seen recent news reports from early May 2025 indicating that the ENERGY STAR program is facing elimination as part of a broader EPA reorganization. The reports are confirmed. This...
EPA drops ESPM: hope for the best
While concerns about the potential elimination or privatization of ENERGY STAR Portfolio Manager (ESPM) are understandable, the possible transition away from ESPM could, in fact, present opportunities for innovation, competition, and improved data management.
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A sense of optimism at the MBA
The following is excerpted from remarks prepared for delivery by the Mortgage Bankers Association’s President and CEO Bob Broeksmit, CMB, at the 2025 Secondary and Capital Markets Conference:
My message today is simple. I’m going...
Multifamily mortgage originations up sharply in Q1
A report from the Mortgage Bankers’ Association (MBA) says that multifamily mortgage originations were up 39 percent year-over-year in Q1. Originations of all commercial mortgages as a single asset class rose 42 percent year-over-year.
Commercial...
Multifamily construction activity falls in April
The Census Bureau’s report on new residential construction stated that multifamily permits declined again after last month’s bump. Multifamily starts rose for the third consecutive month. Multifamily completions continued their slide which started last...
