NAHB honors the best in multifamily and SFR
Since 1990, the National Association of Homebuilders (NAHB) has sponsored the Pillars of the Industry Awards to recognize excellence in apartment and condominium design and development and superior property management and marketing. The Pillars Awards have...
Sharp rise in real estate job openings as leasing season approaches
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 7.74 million. Job openings in both construction and in...
Property manager jobs continue to increase
The Employment Situation Report from the Bureau of Labor Statistics (BLS) stated that the economy experienced modest overall employment growth in February. The employment levels for 2 of the 4 multifamily-related job categories we...
CoStar: multifamily property prices fall as transactions plunge
CoStar reported that its value-weighted index of multifamily property prices fell 0.8 percent month-over-month in January, a setback after four months of reported increases. This index was down 0.9 percent year-over-year.
By contrast, MSCI Real...
Multifamily CMBS delinquency rate declines
Trepp reported that the delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans fell in February. It had been trending higher since last April. The overall CMBS delinquency rate also dropped, falling 26 basis...
Multifamily construction spending continues to fall in January
The Census Bureau’s report on construction spending said that multifamily construction spending in January was down 0.74 percent from the revised level of the month before. Spending on single-family residential construction was reported to...
MSCI: Multifamily property prices show positive trend
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices were up 0.7 percent month-over-month in January from the revised level of the month before. However, prices were...
SFR rents rise, but slowly
CoreLogic reported that their single-family rent index (SFRI) for December rose 1.8 percent from its year-earlier level. This is down 0.4 percentage points from last month’s revised year-over-year rent growth rate and is down...
Multifamily starts lower despite steady permits
Recent reports on new residential construction from the Census Bureau have been up and down in the number of multifamily starts reported. Last month’s report was up and this month’s report was down. This...
Multifamily CMBS special servicing rate eases in January while loan losses surge
Trepp reported that special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans fell slightly in January, declining by 30 basis points. It had risen for 5 months in a row. The overall CMBS...
Rate of construction materials price rise is higher in January
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 January on a seasonally adjusted basis. The index of components and...
Steady growth in multifamily mortgage originations seen in 2024
A report from the Mortgage Bankers’ Association (MBA) says that multifamily mortgage originations were up 69 percent year-over-year in Q4. Originations of all commercial mortgages as a single asset class rose 84 percent year-over-year.
Commercial...
Rent growth turns positive in January
Yardi Matrix reported that the national average asking apartment rent was up $3 in January compared to the revised level of the month before at $1,746 per month. The national average year-over-year asking apartment rent...
Mixed report for residential construction employment growth
The Employment Situation Report from the Bureau of Labor Statistics (BLS) stated that the economy experienced modest overall employment growth in January. While the employment levels for 3 of the 4 multifamily-related job categories...
Number of renter households falls in Q4
The Census Bureau’s quarterly report on home ownership and occupancy for Q4 2024 stated that the rental housing vacancy rate was 6.9 percent. This was unchanged since last quarter’s report despite a slight drop...
