The shifting landscape of rental housing: Single-family rentals vs. multifamily
For decades, when we thought of "rental housing," our minds went straight to apartment complexes. Towering buildings with dozens or even hundreds of units, managed by large corporations. But a quiet revolution has been...
Construction materials prices rise as steel rolls higher
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 August on a seasonally adjusted basis. The intermediate demand index of...
Biennial online renter study shows evolving renter behavior
The multifamily housing industry is witnessing a fundamental shift in how prospective renters discover, evaluate, and choose their living spaces. The 2025 Biennial Online Renter Study by SatisFacts reveals a marketplace where traditional marketing...
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...
