Rent growth rate flat in May
The latest rent report from Apartment List shows that the national average monthly rent growth in May was a positive 0.5 percent, unchanged from last month’s increase. Year-over-year rent growth was 0.9 percent. Both...
JOLT data shows job openings rebound
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in April was 10.10 million, up 358,000 openings from last month’s revised...
Multifamily property prices down in April as transactions plunge
CoStar reported that its value-weighted index of multifamily property prices fell 12.2 percent year-over-year in April. This index was down 1.4 percent month-over-month. While last month’s report indicated that multifamily property prices had risen in...
Multifamily property prices again lead decline
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 1.5 percent in April from their level of the month before. While this was again the largest...
Rent delinquencies edge higher in latest Pulse Survey
The “Week 57” edition of the Census Bureau’s Pulse Survey shows that the portion of renters with rent delinquencies rose to 13.8 percent, up from the 13.1 percent reported in the "Week 56" survey...
CoreLogic reports declining SFR rent growth
CoreLogic reported that their single-family rent index (SFRI) for March rose 4.3 percent from its year-earlier level, the lowest single-family rent growth rate since April 2022. Tracking the changes The recent history of the overall SFRI...
Fannie Mae sees higher multifamily housing starts in 2023
Fannie Mae’s May economic and housing forecast reduces the depth of the predicted downturn in multifamily housing starts. It also delays the start of the downturn but leaves the timing of the recovery largely...
NAHB launches revised multifamily market survey
The National Association of Homebuilders (NAHB) has introduced a pair of new indexes assessing sentiment within the multifamily industry. These new indexes are a redesigned version of NAHB’s Multifamily Market Survey. Creating the scale The surveys...
Multifamily construction permits and completions fall
The Census Bureau’s new residential construction report for April stated that the number of multifamily construction permits issued and unit completions were down for the month while starts were unchanged from the level reported...
CBRE sees slower lending in Q1
A recent report from CBRE says that their commercial mortgage lending momentum index fell in Q1, dropping 33 percent quarter-over-quarter and 53.5 percent year-over year. Dividing the market Unlike reporting from the Mortgage Bankers Association, CBRE...
Senior housing lease-up rates recovering
A whitepaper from NIC MAP Vision looks at how the lease-up rates for senior housing properties have changed over the past 10 years. It finds that the pandemic greatly slowed lease-up rates for new...
California rent control update
A measure which would expand the number of properties in California which could be subject to rent control is working its way through the State Senate. The bill, SB-466, would allow local jurisdictions to...
Construction materials prices unchanged in April
The April producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were unchanged for the month, seasonally adjusted. The index of components and materials for construction...
Multifamily CMBS delinquencies improve in April
Two reports from Trepp show small improvements in the multifamily CMBS market with declines in both the CMBS delinquency rate and the special servicing rate. CBMS delinquency rate unchanged overall One monthly Trepp report focuses on...
Multifamily mortgage originations down in Q1
A report from the Mortgage Bankers’ Association (MBA) says that multifamily mortgage originations in Q1 2023 were down 55 percent on a year-over-year basis. Commercial mortgage originations overall fell 56 percent. Commercial mortgage originations down...
