Smaller metros increase share of multifamily permits in Q2
The National Association of Home Builders (NAHB) recently released its Home Builders Geography Index (HBGI) report for Q2 2025. It does not look at absolute numbers of permits issued but rather looks at what...
Weak overall employment growth reported for August
The Employment Situation Report from the Bureau of Labor Statistics (BLS) stated overall employment growth slowed in August. The employment levels for the 4 multifamily-related jobs categories that we track were all lower than...
Construction job openings higher despite overall fall
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 July fell to 7.18 million. Hiring in July was...
CoStar: multifamily property prices move lower in July
CoStar reported that its value-weighted index of multifamily property prices fell month-over-month in July, dropping 1.36 percent. This index was up 3.11 percent year-over-year.
By contrast, MSCI Real Capital Analytics reported that multifamily property prices...
Yardi Matrix: Rent growth turns negative in August
Yardi Matrix reported that the national average asking apartment rent fell $1 in August compared to the revised level of the month before to $1,755 per month. The national average year-over-year asking apartment rent growth was...
Multifamily construction spending continues to trend lower
The Census Bureau’s report on construction spending stated that the value of multifamily residential construction put in place in fell in July from the revised level of the month before. Spending on single-family residential...
Multifamily CMBS delinquency rate jumps higher
Trepp reported that the delinquency rate for multifamily commercial mortgage-backed securities (CMBS) leaped higher in August, rising by the most for any of the property types Trepp tracks. The overall CMBS delinquency rate rose...
Rent growth turns negative in August
The latest rent report from Apartment List shows that the national median monthly rents fell in August with rent growth of -0.16 percent. This is the third consecutive year in which month-over-month rent growth...
Multifamily property transactions surge in Q2
The market for U.S. multifamily properties outperformed in the second quarter of 2025, outpacing nearly every other commercial real estate sector in both transaction value and annual price growth, according to the latest Altus...
Multifamily cap rates expected to stabilize
New data from CBRE’s H1 2025 Cap Rate Survey suggests that overall cap rates may be poised for modest compression while multifamily cap rates are expected to remain largely unchanged. Despite heightened uncertainty over...
MSCI: Multifamily property prices unchanged in July
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices were unchanged in July compared to the revised level of the month before. This is the second consecutive...
Multifamily starts forecasts revised higher
Revisions to Fannie Mae’s August housing forecast raise the number of multifamily starts expected in 2025 and 2026 from those in last month’s forecast. Fannie Mae is now predicting 389,000 starts in 2025 with...
Tariffs hit the Home Depot
Home Depot, primarily through its subsidiary HD Supply (formerly Home Depot Pro Multifamily), is the largest distributor of maintenance, repair, and operations (MRO) supplies for the U.S. multifamily housing industry. According to industry information...
Multifamily starts rise to multi-year high in July
The Census Bureau’s report on new residential construction stated that multifamily permits fell slightly in July. Multifamily starts added to last month’s gains while multifamily completions were reported to slide. It also reported that...
Study finds regulations on apartment operations lead to higher rents
Regulations designed to protect renters from discrimination and eviction are having the unintended consequence of driving up rents for the very people they aim to help, according to a comprehensive new study of rental...
