Construction materials prices reported lower in March
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were down 0.1 percent month-over-month in March on a seasonally adjusted basis. The index of components...
Renter households on the rise
The Census Bureau released its quarterly report on home ownership and occupancy for Q1 2024. It stated that the rental housing vacancy rate was 6.6 percent, unchanged from its level in the last two...
March is a down month for multifamily housing construction
The Census Bureau’s new residential construction report for March showed multifamily permits were flat for the month, and that was the relative bright spot. Both multifamily unit starts and completions were sharply lower.
The report...
Senior housing occupancy recovery continues in Q1
An NIC MAP Vision summary report shows that senior housing occupancy rose in Q1 while its year-over-year rent growth rate fell.
Segmenting the market
The senior housing market is divided into several sub-markets. NIC MAP Vision...
Rent growth blooms in spring
Yardi Matrix reported that national average apartment rent was up $8 in March compared to the level of the month before at $1,721 per month. The national average year-over-year apartment asking rent growth was...
Fannie Mae lowers housing starts forecasts on higher interest rates
Fannie Mae’s March economic forecast calls for multifamily housing starts to decline modestly through the end of 2025. Single-family housing starts are expected to rise but at a lower rate than predicted last month.
Fannie...
Multifamily CMBS delinquency rate lower in February
Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans declined slightly in February, falling 10 basis points.
Overall CBMS delinquency rate declines
For delinquencies, Trepp focuses on loans that are 30 or more...
Multifamily CMBS delinquency rate slightly higher in March
Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans rose slightly in March, increasing 3 basis points.
Overall CBMS delinquency rate declines
For delinquencies, Trepp focuses on loans that are 30 or more...
Multifamily property prices still falling, but more slowly
CoStar reported that its value-weighted index of multifamily property prices fell 0.4 percent month-over-month in December 2023, the fourth decline in a row. This index was down 10.7 percent year-over-year.
The value-weighted index of non-multifamily...
GSEs dominate growth in multifamily mortgages outstanding in Q4
A Mortgage Bankers Association (MBA) report shows that the growth in multifamily mortgage debt outstanding in Q4 2023 was down from that in Q3. This is very different from the usual annual pattern where...
New Section 8 income rule would cap rent growth for LIHTC properties
On January 9, HUD proposed changes to how they calculate Section 8 income limits. The summary of the change as posted on the Regulations.gov website read in part: “The United States Housing Act of...
Vacancy rate unchanged as more households rent in Q4
The Census Bureau released its quarterly report on home ownership and occupancy for Q4 2023. It stated that the rental housing vacancy rate was 6.6 percent, unchanged from its level in Q3 but up...
MSCI: Multifamily property price decline continues
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 1.0 percent from their level of the month before in February. This is much faster than last...
CoStar: Multifamily property prices lower as transactions plunge
CoStar reported that its value-weighted index of multifamily property prices fell 0.6 percent month-over-month in November 2023, a smaller drop than last month’s revised decline of 0.9 percent. This index was down 13.5 percent...
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...
