Rent growth continues autumn fall
The latest rent report from Apartment List shows that the national median monthly rent growth in September was -0.5 percent. Year-over-year rent growth was -1.2 percent. The month-over-month results are the worst for a...
SFR rent growth rate continues decline in July
CoreLogic reported that their single-family rent index (SFRI) for July rose 3.1 percent from its year-earlier level. This is down from the 3.3 percent year-over-year SFR rent growth reported last month. The rate of...
Apartment market competitiveness down from last year
RentCafe reported that the apartment rental market remained moderately competitive at the recent peak of the 2023 rental season. However, most measures of apartment market competitiveness were down from the levels they posted at...
Fed projects interest rates will stay high longer
Federal Open Market Committee (FOMC) met this week and decided to keep interest rates unchanged. However, the Federal Reserve’s updated forecasts for key economic metrics projected that interest rates may remain high for longer...
Insurance costs lead operating expenses higher
A new report from Yardi Matrix documents the rapid rise in operating expenses for multifamily properties over the past year and identifies the factors driving this rise. The broad view Nationally, Yardi Matrix found that average...
August multifamily construction starts down sharply
The Census Bureau’s new residential construction report for August stated that the number of multifamily permits issued and unit completions were up from the levels reported last month. However, the number of multifamily starts...
Multifamily starts slowdown forecast to come later
Fannie Mae’s September economic and housing forecast predicts higher multifamily starts in 2023 but lower multifamily starts in 2024 than called for in last month’s forecast. Multifamily starts expected to slow - later The current forecast...
Yardi and property managers sued over revenue management software
Property management software firm Yardi Systems was sued in the U.S. District Court for the Western District of Washington on September 8 over its revenue management software product, currently called Revenue IQ. The suit...
Market rents: who’s hot, who’s not
The pandemic created a number of anomalies in the rental market that will take some time to normalize, not the least of which is in market rents. While more than 35 percent...
Construction materials prices unchanged in August
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were unchanged month-over-month in August on a seasonally adjusted basis. The index of components and materials...
Economic pressures plague renters as median income fell in 2022
Called the invisible tax, inflation wreaked havoc with resident income in 2022 according to new reports by the Census Bureau. This marks three straight years where the nation’s standard of living has fallen due...
Google faces antitrust lawsuit
Warm weather regularly signals the time to move for many marked by a precipitous increase in Google searches for apartments. There were over 6 million searches for the word apartment nationally in May 2022...
MBA reports commercial mortgage delinquency rates on the rise
The Mortgage Bankers Association (MBA) reported that delinquency rates are growing for commercial mortgages issued by 4 of the 5 classes of lenders they track. Distress definitions differ The MBA report is issued quarterly, with the...
Where the jobs are going
The Bureau of Labor Statistics recently released its County Employment and Wages report for Q1 2023 which identifies the number of jobs and the level of wages by Metropolitan Statistical Area (MSA). The data...
IPA finds deep local drops in multifamily construction starts
While the Census Bureau reports on multifamily construction starts at the national level, they do not supply data at the state or metro levels. A new report from Institutional Property Advisors (IPA) supplies more...
