Multifamily CMBS delinquency rate edges higher
Trepp reported that the rise in the delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans continued in January, although more slowly than in recent months. The overall CMBS delinquency rate declined marginally, falling...
Job openings down sharply in December
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in December was 7.60 million. This was reported to be down 556,000...
Multifamily construction spending lower to end the year
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in December was down 0.28 percent from the revised level of the month before. Spending on...
CoStar: multifamily property prices rise as transactions surge
CoStar reported that its value-weighted index of multifamily property prices rose 1.4 percent month-over-month in December, slightly lower than last month’s reported increase. This index was down 2.8 percent year-over-year.
By contrast, MSCI Real Capital...
Rents start the new year on a down note
The latest rent report from Apartment List shows that the national median monthly rent growth in January was -0.21 percent. Rents have fallen on a month-over-month basis for 6 straight months. Year-over-year rent growth...
IRR: Cap rates edged higher in 2024
Intergra Realty Resources (IRR) recently released its annual Viewpoint report for 2025. The report discusses the state of the US economy and presents an update on the operating performance data for four commercial property...
SFR rents rise at lowest pace in years
CoreLogic reported that their single-family rent index (SFRI) for November rose 1.5 percent from its year-earlier level. This is down 0.2 percentage points from last month’s reported year-over-year rent growth rate and is down...
MSCI: Multifamily property prices stop falling in December
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices were unchanged month-over-month in December from the revised level of the month before. However, prices were down 4.2...
Multifamily starts projected lower than in last month’s forecast
As in last month’s forecast, Fannie Mae’s January housing forecast calls for multifamily housing starts to bottom out in mid-2025 and then to steadily increase through the rest of the forecast horizon. However, their...
Multifamily CMBS special servicing rate jumps in December
Trepp reported that special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans increased again in December, jumping 135 basis points. It is now up 361 basis points since July. The overall CMBS special...
Multifamily starts rebound
The Census Bureau’s new residential construction report stated that, after falling to the lowest level since April 2020 last month, multifamily starts rebounded to the highest level in a year in December. However, both...
Construction materials prices move modestly higher
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices rose 0.2 percent month-over-month in December on a seasonally adjusted basis. The index of components and...
Rent growth still in seasonal decline
Yardi Matrix reported that the national average asking apartment rent was down $4 in December compared to the revised level of the month before at $1,742 per month. The national average year-over-year asking apartment...
Strong employment growth seen in December
The Employment Situation Report from the Bureau of Labor Statistics stated that overall employment growth continued to be strong in December. In addition, the employment levels all 4 multifamily-related job categories we track showed...
CoStar: multifamily property prices continue rise
CoStar reported that its value-weighted index of multifamily property prices rose 1.4 percent month-over-month in November. However, this index was down 5.2 percent year-over-year.
The month-over-month price movement reported by CoStar varies significantly from that...
