Multifamily CMBS delinquency and special servicing rates drop again
Trepp reported that the delinquency rate for multifamily commercial mortgage-backed security (CMBS) loans declined in January, falling 71 basis point. Trepp also reported that the multifamily CMBS special servicing rate declined, falling 83 basis...
Yardi Matrix sees changing mix in multifamily starts
A new report from Yardi Matrix examines the changes in the number of multifamily starts and the sorts of developments started over the last 10 years. It takes a broad view of multifamily housing...
Multifamily property prices still falling, but more slowly
CoStar reported that its value-weighted index of multifamily property prices fell 0.4 percent month-over-month in December 2023, the fourth decline in a row. This index was down 10.7 percent year-over-year. The value-weighted index of non-multifamily...
Multifamily construction spending ticks higher in December
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in December was up 0.3 percent from the revised level of the month before. Spending on...
Multifamily employment reported to rise in January
The Employment Situation Report from the Bureau of Labor Statistics stated that January employment levels in 3 of the 4 multifamily-related job categories we track rose from the revised levels of the previous month. Overall...
Vacancy rate unchanged as more households rent in Q4
The Census Bureau released its quarterly report on home ownership and occupancy for Q4 2023. It stated that the rental housing vacancy rate was 6.6 percent, unchanged from its level in Q3 but up...
Rent growth in winter chill
The latest rent report from Apartment List shows that the national median monthly rent growth in January was -0.3 percent. Year-over-year rent growth was -1.0 percent. Apartment List reported the national median apartment rent to...
Multifamily jobs on the rise 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 9.03 million. This was reported to be up 101,000...
SFR rent growth rate edges higher in November
CoreLogic reported that their single-family rent index (SFRI) for November rose 2.7 percent from its year-earlier level. This is up from the 2.5 percent year-over-year rent growth reported last month. This increase marks a...
MSCI: Multifamily property prices unchanged
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices in December were statistically unchanged from their level of the month before, breaking a string of 16 monthly...
Cap rates rise in latest reading from IRR
Intergra Realty Resources (IRR) recently released its annual Viewpoint report for 2024. The report discusses the state of the US economy and presents an update on the operating and sales performance data for four...
Fannie Mae no longer forecasts recession
Fannie Mae’s January economic forecast is their first since April 2022 that does not anticipate that the U.S. economy will go into recession as the Federal Reserve works to bring inflation under control. The...
Census reports improving multifamily construction figures for December
The Census Bureau’s new residential construction report for December showed a rebounding multifamily housing construction business, with multifamily construction permits, starts and completions numbers all rising from the levels reported last month. The number of...
CBRE 2024 economic outlook foresees lower rent growth
CBRE recently released its economic outlook for 2024. It predicts that the high level of new deliveries in 2024 will cause rent growth to be lower than what we have seen recently. What’s ahead for...
Construction materials prices up again in December
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were up 0.3 percent month-over-month in December on a seasonally adjusted basis. The index of components...
