Construction materials prices reported flat
The February producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were unchanged in the month, seasonally adjusted. The index of components and materials for construction...
Rent growth in winter freeze
Yardi Matrix reported that national average apartment rent growth was flat again in February with rents remaining unchanged from January’s revised level at $1,702 per month. Year-over-year rent growth rates sliding The national average asking apartment...
Multifamily employment rises in February
The Employment Situation Report from the Bureau of Labor Statistics stated that both residential construction employment and apartment operations employment rose in the latest month. Job growth continues The Bureau of Labor Statistics (BLS) reported that...
Multifamily loan delinquencies edge higher
Three reports, two from Trepp and one from the Mortgage Bankers Association (MBA) show that loan delinquencies and other signs of stress are growing for commercial mortgages, although from low levels in the case...
Multifamily and construction job openings much lower in January
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in January was 10.82 million, down from the preliminary figure reported last...
Weather insurance rates on the rise
Yardi Matrix has released a research bulletin describing changes coming to the weather damage insurance market, and to insurance rates, for commercial property in response to recent storms. Where the damages are The report notes that...
Rent delinquencies edge higher in latest Pulse Survey
The “Week 54” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments rose to 14.2 percent, up from the 12.6 percent reported in...
Residential construction spending slows despite multifamily
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in January was up 0.4 percent month-over-month. Spending on single-family fell for the 9th month in...
Multifamily property prices fall as transactions plunge
CoStar reported that its value-weighted index of multifamily property prices fell 3.7 percent year-over-year in January 2023. This index was down 1.3 percent month-over-month, the seventh monthly decline in a row. The value-weighted index of...
Rent growth losing streak ends in February
The latest rent report from Apartment List shows that the national average monthly rent growth in February was a positive 0.3 percent, breaking a string of 5 monthly declines. Year-over-year rent growth was 3.0...
Housing starts forecasts rise
Fannie Mae’s February economic and housing forecasts predict a higher number of multifamily starts in 2023 and 2024 than did last month’s forecast. The forecast for single-family starts was also revised higher for both...
Multifamily mortgage originations plunge in Q4
A report from the Mortgage Bankers’ Association (MBA) says that originations of multifamily mortgages in Q4 were down 52 percent on a year-over-year basis. Originations of all commercial mortgages as a single asset class...
Multifamily housing starts fall despite rise in permits
The Census Bureau’s new residential construction report for January reported that the number of multifamily permits issued increased but that starts and completions both fell, matching last month's pattern. Starts exceeded completions again leading...
Construction materials price decline continues
The January producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices fell 0.2 percent in the month, seasonally adjusted, the fifth monthly decline in a row....
Census reports on rental vacancies in Q4
The Census Bureau released its quarterly report on home ownership and occupancy for Q4 2022. It stated that the rental housing vacancy rate was 5.8 percent, down from a level of 6.0 percent in...
