Pulse Survey finds lower rent delinquencies
The “Week 49” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments has fallen to a new survey low of 12.3 percent. What is...
Multifamily property price growth rate down in September
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices rose 15.9 percent year-over-year in September and that they rose 0.2 percent from the month before. The year-over-year...
Fannie Mae revises GDP growth forecast lower again
Fannie Mae’s October economic and housing forecasts predict that the economy will briefly return to growth in Q3 before entering a recession in early 2023. The downturn is expected to lower housing starts next...
Multifamily housing construction completions rebound
The Census Bureau’s new residential construction report for September was the reverse of last month’s report with multifamily housing construction permits and completions rising. Starts fell after moving sharply higher last month, but starts...
Have construction materials price rises peaked?
The September 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. While this decline is small, it may...
MBA forecasts a slowing economy
The Mortgage Bankers’ Association (MBA) recently released its Q2 2022 quarterly databook. It contains some data that has been previously discussed here and here, but it also includes new forecasts for key economic metrics...
Recovery in senior housing continues in Q3
An NIC Map Vision summary of the fundamentals of the senior housing industry reports that they are continuing to improve as the recovery from the pandemic continues. Segmenting the market The senior housing market is highly...
Weak report on construction employment in September
The latest Employment Situation Report from the Bureau of Labor Statistics stated that employment in apartment operations jobs was higher in September than reported the month before but employment in residential construction jobs was...
Rent growth flatlines in September
Yardi Matrix reported that national average apartment rent growth stalled in September with rent remaining unchanged from their August level at $1,718 per month. YoY rent growth rate slide continues The national average apartment rent was...
Multifamily job openings rise in August despite overall openings plunge
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings fell in August from last month’s level despite last month’s job openings...
BEA reports on housing inflation
The Bureau of Economic Analysis released its report on personal consumption expenditures (PCE) for the month of August. The overall PCE price index rose 0.3 percent for the month and 6.3 percent from the...
Multifamily residential construction spending steady in August
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in August was up 0.4 percent month-over-month despite overall residential construction spending falling by 1.0 percent. Multifamily...
Costar says multifamily property prices down for second month
CoStar reported that its value-weighted index of multifamily property prices fell 1.4 percent month-over-month in August after a revised fall of 0.5 percent the month before. The index increased 15.2 percent year-over-year. The combined value-weighted...
Streamlining inspections of affordable housing in California
The California State Legislature recently passed, and Governor Newsom signed, AB 2006, a bill to eliminate duplication in the inspection of affordable housing projects in the state. The bill was sponsored by Assemblyman Marc...
Rents fall in September
The latest rent report from Apartment List shows that the national average rent growth turned negative in September. Rents fell 0.2 percent month-over-month but still rose 7.5 percent year-over-year. The month-over-month decline was only...
