Senior housing construction activity slows
NIC Map Vision reports that senior housing construction starts slowed dramatically in Q3 in the face of rising interest rates and construction costs. However, results vary greatly by the market segment of the product...
Rising employment reported for multifamily
The Employment Situation Report from the Bureau of Labor Statistics stated that employment in both residential construction and in apartment operations edged higher in November. Economy continues to add jobs The Bureau of Labor Statistics (BLS)...
Multifamily construction spending steady as single-family falls
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in October was up 0.6 percent month-over-month. Spending on single-family fell for the 6th month in...
CoStar: multifamily property prices falling
CoStar reported that its value-weighted index of multifamily property prices was down 1.4 percent month-over-month in October, the fourth monthly decline in a row. However, this index was still up 10.5 percent, year-over-year. The value-weighted...
Rents continue slide in November
The latest rent report from Apartment List shows that the national average rent growth in November remained negative for the third consecutive month. Rents fell 1.0 percent month-over-month. Year-over-year rent growth remained positive, with...
Job openings trend lower in October
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings fell to 10.33 million in October. In addition, last month’s job openings...
Rent delinquencies nearly unchanged in Pulse Survey
The “Week 51” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments fell slightly to 13.7 percent, down from the 14.0 percent reported...
Criminal background checks out in NYC?
A measure called the Fair Chance for Housing Act is under consideration by the New York City Council. It would ban the use of using criminal background checks to screen residents in most cases....
Fannie Mae sees bigger housing slowdown coming
Fannie Mae’s November economic and housing forecasts predict that both multifamily and single-family housing starts will fall next year by more than they previously expected. The November forecast is the first from Fannie Mae to...
Multifamily property prices fall in October
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 0.6 percent in October from their level of the month before. Prices were still up 11.3 percent...
Multifamily housing construction activity falls slightly in October
The Census Bureau’s new residential construction report for October recorded slight declines in multifamily housing construction permits, starts and completions. However, none of the declines was more than 5 percent from the levels of...
Understanding Gen Z
A new survey from Freddie Mac examines the attitudes of Gen Z about money, renting and home ownership. The survey questioned 1739 people aged from 14 through 25, 72 percent of whom are still living...
Sizing up adaptive reuse
A new report by RentCafe looks at the recent growth in the number of new apartments being created through the adaptive reuse of existing buildings. Adaptive reuse is often mentioned as one approach to...
Construction materials prices fall in October
The October producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices fell 0.4 percent in the month, seasonally adjusted, matching last month’s decline. However, the index...
Rent growth resumes in October
Yardi Matrix reported that national average apartment rent growth turned positive in October with rents increasing $3 from September’s revised level to $1,727 per month. YoY rent growth rate slide continues The national average asking apartment...
