NMHC, NAA support the introduction of choice in Affordable Housing Act
The National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) applaud the introduction of the Choice in Affordable Housing Act, bipartisan legislation that aims to increase private sector participation in the Section...
Construction materials prices flat in June
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were unchanged month-over-month in June, seasonally adjusted. The index of components and materials for construction was...
Remodeling market sentiment edged down in second quarter
The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter, posting a reading of 68, edging down two points compared to the previous quarter. The NAHB/Westlake...
Senior housing occupancy rises in Q2
An NIC Map Vision summary report shows that occupancy and other basic metrics for the senior housing industry continued to improve in Q2. Analyzing the market The senior housing market is divided into several sub-markets. NIC...
Multifamily CMBS delinquency rates move higher in June
Trepp reported that both delinquency rates and special servicing rates for multifamily CMBS loans rose in June. Delinquency rates and special servicing rates for the overall CMBS market also rose driven by problems with...
NAHB now accepting Pillars Awards applications
Since 1990, the National Association of Homebuilders (NAHB) has sponsored the Pillars of the Industry Awards to recognize excellence in apartment and condominium design and development, interior merchandising and superior property management and marketing. The Pillars...
June employment report sees lower jobs growth
The Employment Situation Report from the Bureau of Labor Statistics stated that residential construction employment rose compared to its revised level of the month before. However, apartment operations employment fell slightly. Employment growth still positive The...
Job openings fall in latest JOLT report
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in May was 9.82 million, down 496,000 openings from last month’s revised...
Rent growth rate flat in June
The latest rent report from Apartment List shows that the national average monthly rent growth in June was a positive 0.4 percent, down slightly from last month’s increase. Year-over-year rent growth was negative 0.5...
Single-family construction spending shows signs of life
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in May was down 0.1 percent month-over-month. Single-family construction spending rose as did spending on improvements. In...
Multifamily property prices flat in May
CoStar reported that its value-weighted index of multifamily property prices fell 15.3 percent year-over-year in May. However, this index was unchanged month-over-month. The value-weighted index of non-multifamily commercial property rose by 0.6 percent, year-over-year, in...
Trepp looks at NOI growth
A recent report from Trepp looks at how multifamily net operating income (NOI) grew between 2021 and 2022 and how NOI growth varied across the country. It did so by examining a sub-set of...
Uncertain economic conditions continue to impact multifamily businesses
The June edition of the NMHC Quarterly Survey of Apartment Construction & Development Activity found that multifamily development and construction firms continue to face headwinds. The rising cost of capital, coupled with a slowing...
Costa Mesa adds housing through rehabs
As part of a statewide initiative to remediate its housing shortage, the state of California has mandated that the city of Costa Mesa zone for 11,760 new units of housing by 2029. To this...
FHA increases multifamily large loan processing limit
The Federal Housing Administration (FHA) published a Mortgagee Letter on June 28 that increased the threshold at which a Multifamily loan is considered a Large Loan from $75 million to $120 million. This was...
