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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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...
Construction materials prices rise moderately despite copper wire price jump
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 April on a seasonally adjusted basis. The index of components and...
CBRE reports CRE investment up 14 percent in Q1
A recent report from CBRE says that both commercial mortgage investment volume and momentum rose in Q1. Volume grew to $88 billion, while momentum rose 13 percent compared to their year-earlier levels.
Dividing the market
CBRE...
Redfin: April rents up for month but down for year
Redfin’s rent report for April says that the national median asking apartment rent rose 0.9 percent for the month to reach a level of $1,625. However, the median rent growth was -1.0 percent year-over-year.
Varying...
Update: Rent control advances in Washington, stalls in California
Update May 12, 2025: Governor Bob Ferguson (D) has signed the Washington state rent control bill. Its provisions take effect immediately.
The St Paul city council has passed changes to its rent control ordinance that...
Multifamily builder confidence slightly lower in Q1
The National Association of Home Builders (NAHB) quarterly survey of multifamily builders showed a slight decline in confidence in the market for new multifamily housing. The survey provides 3 measures of sentiment, the Multifamily...
Lifestyle property rent growth underperforms in April
Yardi Matrix reported that the national average asking apartment rent was up $5 in March compared to the revised level of the month before at $1,736 per month. The national average year-over-year asking apartment rent...
Multifamily starts forecast higher despite worse projections for the economy
Revisions to Fannie Mae’s housing forecast in April call for more multifamily starts across the entire forecast horizon than in last month’s forecast. Fannie Mae is now predicting 359,000 starts in 2025 with 390,000...
Multifamily employment higher in April
The Employment Situation Report from the Bureau of Labor Statistics (BLS) stated that employment growth continued at a steady pace in April. Property manager employment was higher but construction employment was lower than the...
Multifamily construction spending lower again in March
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in March was effectively unchanged from the downwardly revised level of the month before. Spending on...
Multifamily delinquencies lead CMBS delinquency rate higher
Trepp reported that the delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans surged higher again in April on a few large loans becoming delinquent. The overall CMBS delinquency rate also rose, gaining 38...
Construction jobs lower despite overall gains
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of total non-farm job openings in March was down to 7.19 million, continuing a 3-year...
CoStar: multifamily property prices slide on low sales volume
CoStar reported that its value-weighted index of multifamily property prices fell 0.15 percent month-over-month in March, slightly less than last month’s reported decline. This index was up 5.8 percent year-over-year.
By contrast, MSCI Real Capital...
