Thursday, May 22, 2025

PRO Blog

Rents on the rise

Rent growth blooms in spring

The latest rent report from Apartment List shows that the national median monthly rent growth in March was +0.59 percent. Rents have now risen for 2 months in a row. However, year-over-year rent growth...
CBMS special servicing rates and loan losses

Multifamily CMBS special servicing rate rises in February

Trepp reported that special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans resumed its upward trend in February, rising 9 basis points. The overall CMBS special servicing rate on commercial property rose 45...
St Paul Minnesota rent control

St Paul looks to revise its rent control ordinance

In November 2021, voters in St. Paul, Minnesota passed one of the most stringent rent control measures in the country. The St. Paul city council recently announced plans to revise it yet again. Toning it...

MBA: commercial mortgage delinquency rates on the rise

A recent report from the Mortgage Bankers’ Association (MBA) states that commercial and multifamily mortgage delinquency rates have been rising for the last two years. For some categories of lenders, delinquency rates are now...
Federal Reserve keeps fed funds rate unchanged

Fed keeps interest rate trajectory unchanged

The economic projections released by the Federal Open Market Committee (FOMC) after this week’s meeting indicate that they expect the interest rate trajectory to be the same as they projected with the last release...
bank lending

GSEs dominate growth in multifamily mortgage debt in Q4

The Mortgage Bankers Association (MBA) reported that multifamily mortgage debt outstanding rose by $38.88 billion in Q4 from the revised level of the quarter before. Total multifamily debt reached a level of $2.157 trillion....
multifamily construction

Multifamily starts rise as completions fall

The Census Bureau’s report on new residential construction stated that multifamily permits fell, multifamily starts rose and multifamily completions plunged. It also reported rising single family construction activity with increases in both starts and...
plywood leads construction materials prices higher

Higher construction materials prices coming

The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices rose 0.1 percent month-over-month in February on a seasonally adjusted basis. The index of components and...
seasonal wetland not part of WOTUS

EPA to revise WOTUS rule

EPA, along with the U.S. Army Corps of Engineers, announced new guidance on what qualifies as “waters of the United States” (WOTUS) in light of the Supreme Court’s Sackett decision. The agencies also announced...
Pillars awards winners

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...
job openings rise in January

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 employment growth beats the trend

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...
multifamily property prices fall

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...
CMBS delinquency

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...
residential construction spending

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...
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