Rate of construction materials price rise is higher in January
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 January on a seasonally adjusted basis. The index of components and...
Steady growth in multifamily mortgage originations seen in 2024
A report from the Mortgage Bankers’ Association (MBA) says that multifamily mortgage originations were up 69 percent year-over-year in Q4. Originations of all commercial mortgages as a single asset class rose 84 percent year-over-year.
Commercial...
Rent growth turns positive in January
Yardi Matrix reported that the national average asking apartment rent was up $3 in January compared to the revised level of the month before at $1,746 per month. The national average year-over-year asking apartment rent...
Mixed report for residential construction employment growth
The Employment Situation Report from the Bureau of Labor Statistics (BLS) stated that the economy experienced modest overall employment growth in January. While the employment levels for 3 of the 4 multifamily-related job categories...
Number of renter households falls in Q4
The Census Bureau’s quarterly report on home ownership and occupancy for Q4 2024 stated that the rental housing vacancy rate was 6.9 percent. This was unchanged since last quarter’s report despite a slight drop...
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...
