Friday, March 29, 2024

National

Articles with a National focus

job openings

Three-bedroom units lose some luster as occupancy returns to pre-pandemic norms

The multifamily arena is finally returning to pre-pandemic norms and so are renter preferences for unit types. Three-bedroom units, which saw the greatest increases in occupancy during COVID, have settled back to...
Job openings, quits and hiring lead to employment gains

Employment rises despite lower job openings

The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in January was 8.86 million. This was reported to be down 26,000...
declining quality of multifamily CMBS loans

Multifamily CMBS delinquency rate lower in February

Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans declined slightly in February, falling 10 basis points. Overall CBMS delinquency rate declines For delinquencies, Trepp focuses on loans that are 30 or more...
multifamily property prices decline

Multifamily property price slide accelerates

CoStar reported that its value-weighted index of multifamily property prices fell 1.4 percent month-over-month in January 2024, the fifth decline in a row and the 16th decline in the last 18 months. This index...
new multifamily residential construction

Lower multifamily construction spending in January

The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in January was down 0.4 percent from the revised level of the month before. Spending on...
multifamily housing construction

Building more luxury apartments lowers rent for all classes

One of ten unintended consequences of rent control, according to the National Apartment Association, is that it reduces developers’ incentives to build new rental housing. Rent control has proven to backfire on...
multifamily housing construction

NAHB: Multifamily housing construction will decline in 2024

Multifamily housing starts are predicted to decline in 2024, according to the National Association of Home Builders (NAHB). Meanwhile, the remodeling sector remains on solid ground and will hold steady this year. Multifamily starts totaled...
soft landing for economy means slowly declining inflation with positive GDP growth

Fannie Mae predicts a soft landing for economy

Fannie Mae’s February economic forecast calls for a steady decline in inflation while both GDP growth and employment growth remain positive, if subdued. The housing forecast predicts that multifamily starts will be higher in...
multifamily property prices

MSCI: Multifamily property prices lower in January

The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices in January fell 0.4 percent from their level of the month before. Prices were down 7.9 percent from...

Yardi matrix reports strong student housing preleasing activity

Yardi Matrix reports strong student housing preleasing in its most recent Yardi Matrix National Student Housing Report. The off-campus student housing sector continues to post solid fundamentals, beating out last year’s preleasing rate...
multifamily developer confidence

Multifamily developer confidence in negative territory in Q4

Confidence in the market for new multifamily housing was in negative territory in the fourth quarter of 2023, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home...
Partnership with Greystar

JLL Securities Advises Wood Partners on Strategic Partnership with Greystar

Jones Lang LaSalle Securities, LLC, an affiliate of JLL (Jones Lang LaSalle Americas, Inc.), announced that it served as the financial advisor to Wood Partners, a top national developer and builder of multi-housing in...

Construction materials prices continue to climb in January

The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were up 0.3 percent month-over-month in January on a seasonally adjusted basis. The index of components...

Census report foretells multifamily construction slowdown

The Census Bureau’s new residential construction report for January showed rising level of multifamily construction completions. However, both multifamily permits and starts were down sharply for the month. If this trend continues, it would...

Least and most affordable cities for single renters

According to a new study from New York-based listing service RentHop, single renters are faced with widely varying housing burdens dependent on the median rent and income in a given area. Of...
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