Rents in winter chill
The latest rent report from Apartment List shows that the national median monthly rent growth in December was -0.64 percent. Rents have fallen on a month-over-month basis since August 2024. Year-over-year rent growth was...
Multifamily starts forecast to rise starting in late 2025
Fannie Mae’s December 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.
The forecast for single-family housing starts was revised...
Job openings higher again in November
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in November was 7.74 million. This was reported to be up 259,000...
Multifamily CMBS delinquency rate continues climb in December
Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans rose sharply again in December. The overall CMBS delinquency rate also rose, climbing another 17 basis points.
Overall CBMS delinquency rate higher again
For...
Growth in multifamily mortgage debt increases in Q3
The Mortgage Bankers Association (MBA) reported that multifamily mortgage debt outstanding rose by $29.83 billion in Q3 from the revised level of the quarter before. Total multifamily debt reached a level of $2.123 trillion....
MSCI: Only multifamily property prices fall in November
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 0.3 percent from their level of the month before in November. Prices were down 5.7 percent from...
Resolve to learn about CSRD
I love this time of year in multifamily. Things slow down (slightly) from the break-neck pace of the rest of the year and we get to take a moment to ponder where we are...
Fed backs off plans for interest rate cuts
The economic projections released by the Federal Open Market Committee (FOMC) after this week’s meeting indicate that they will be keeping interest rates higher for longer than they suggested in other recent projections. This...
Multifamily starts reported sharply lower
The Census Bureau’s new residential construction report stated that multifamily permits jumped higher in November but both starts and completions were sharply lower month-over-month.
Multifamily permits rebound
The number of permits issued for buildings with...
Rent growth follows seasonal pattern
Yardi Matrix reported that the national average asking apartment rent was down $5 in November compared to the revised level of the month before at $1,744 per month. The national average year-over-year asking apartment rent...
Construction materials prices up again in November
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 November on a seasonally adjusted basis. In addition, the change in...
Positive employment growth seen in November
The Employment Situation Report from the Bureau of Labor Statistics stated that overall employment growth bounced back in November after last month’s collapse. In addition, last month’s employment level was revised higher in this...
Rent growth remains in autumn lull
The latest rent report from Apartment List shows that the national median monthly rent growth in November was -0.82 percent. Year-over-year rent growth was -0.62 percent. Rents have fallen on a year-over-year basis since...
Multifamily CMBS special servicing rate jumps in November
Trepp reported that special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans moved higher for the fourth month in a row in November, jumping 116 basis points. The overall CMBS special servicing rate...
Multifamily CMBS delinquency rate jumps in November
Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans rose sharply in November, more than reversing last month’s decline. The overall CMBS delinquency rate also rose, climbing another 42 basis points...
