Tag: Blog
Construction materials price rises moderate in July
The Bureau of Labor Statistics (BLS) released its producer price index (PPI) report for July 2022. It stated that construction materials prices were up...
Rental vacancy rate declines in Census report
The Census Bureau released its quarterly report on home ownership and occupancy for Q2 2022. It showed that the rental housing vacancy rate was...
Rent growth rate declines in July
Yardi Matrix reported that the national average apartment rent growth in July was $10, bringing the average rent to $1,717 per month. Rent growth rate...
Multifamily jobs reported higher in July
The latest Employment Situation Report from the Bureau of Labor Statistics stated that employment in both apartment operations jobs and residential construction jobs was...
Construction spending falls on single-family decline
The Census Bureau’s report on construction spending shows that the value of residential construction put in place in June was down 1.7 percent from...
Job openings down again in June
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings declined in...
Multifamily property prices up despite sales slowdown
CoStar reported that its value-weighted index of multifamily property prices increased 22.9 percent, year-over-year, in June 2022. This index was up 1.4 percent month-over-month....
Above trend rent growth continues in July
The latest rent report from Apartment List shows that the national average rent growth in July was 1.1 percent month-over-month and 12.4 percent year-over-year....
Multifamily property prices rise at torrid pace
The latest commercial property price report from MSCI (formerly Real Capital Analytics) said that multifamily property prices rose 23.7 percent year-over-year in June and...
Fannie Mae sees slower economic growth ahead
Fannie Mae’s July economic and housing forecasts predict negative GDP growth in Q2 2022 and a recession in early 2023. The slowdown in economic...
Pulse Survey shows slow response to rental assistance requests
The “Week 47” edition of the Census Bureau’s Pulse Survey shows that about one in seven renters are behind on their rent payments. This...
Multifamily housing construction looking strong heading into summer
The Census Bureau’s new residential construction report for June showed multifamily permits and starts both recovering from last month’s declines. Unit completions fell during...
Yardi Matrix reports high but declining rent growth
Yardi Matrix reported that the national average apartment rent rose $19 in June to $1,706 per month. However, this is $26 per month higher...
Construction materials prices higher despite lumber price drop
The Bureau of Labor Statistics (BLS) released its producer price index report for June 2022. It stated that construction materials prices were up 0.3...
Inflation puts multifamily wages under pressure
The wage data the Bureau of Labor Statistics (BLS) released along with its employment situation report show that hourly wage growth for three categories...
