GSEs dominate growth in multifamily mortgage debt in Q4
The Mortgage Bankers Association (MBA) reported that multifamily mortgage debt outstanding rose by $38.88 billion in Q4 from the revised level of the quarter before. Total multifamily debt reached a level of $2.157 trillion....
Multifamily starts rise as completions fall
The Census Bureau’s report on new residential construction stated that multifamily permits fell, multifamily starts rose and multifamily completions plunged. It also reported rising single family construction activity with increases in both starts and...
Higher construction materials prices coming
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices rose 0.1 percent month-over-month in February on a seasonally adjusted basis. The index of components and...
EPA to revise WOTUS rule
EPA, along with the U.S. Army Corps of Engineers, announced new guidance on what qualifies as “waters of the United States” (WOTUS) in light of the Supreme Court’s Sackett decision. The agencies also announced...
NAHB honors the best in multifamily and SFR
Since 1990, the National Association of Homebuilders (NAHB) has sponsored the Pillars of the Industry Awards to recognize excellence in apartment and condominium design and development and superior property management and marketing. The Pillars Awards have...
Sharp rise in real estate job openings as leasing season approaches
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 7.74 million. Job openings in both construction and in...
Property manager jobs continue to increase
The Employment Situation Report from the Bureau of Labor Statistics (BLS) stated that the economy experienced modest overall employment growth in February. The employment levels for 2 of the 4 multifamily-related job categories we...
CoStar: multifamily property prices fall as transactions plunges
CoStar reported that its value-weighted index of multifamily property prices fell 0.8 percent month-over-month in January, a setback after four months of reported increases. This index was down 0.9 percent year-over-year.
By contrast, MSCI Real...
Multifamily CMBS delinquency rate declines
Trepp reported that the delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans fell in February. It had been trending higher since last April. The overall CMBS delinquency rate also dropped, falling 26 basis...
Multifamily construction spending continues to fall in January
The Census Bureau’s report on construction spending said that multifamily construction spending in January was down 0.74 percent from the revised level of the month before. Spending on single-family residential construction was reported to...
MSCI: Multifamily property prices show positive trend
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices were up 0.7 percent month-over-month in January from the revised level of the month before. However, prices were...
SFR rents rise, but slowly
CoreLogic reported that their single-family rent index (SFRI) for December rose 1.8 percent from its year-earlier level. This is down 0.4 percentage points from last month’s revised year-over-year rent growth rate and is down...
Multifamily starts lower despite steady permits
Recent reports on new residential construction from the Census Bureau have been up and down in the number of multifamily starts reported. Last month’s report was up and this month’s report was down. This...
Multifamily CMBS special servicing rate eases in January while loan losses surge
Trepp reported that special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans fell slightly in January, declining by 30 basis points. It had risen for 5 months in a row. The overall CMBS...
Rate of construction materials price rise is higher in January
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices rose 0.3 percent month-over-month in January on a seasonally adjusted basis. The index of components and...
