Friday, March 29, 2024

Apartment watch

Things to watch, what to know, in your apartment operation

consider the emotional benefits of lighting

Consider the emotional benefits of lighting

Have you ever walked down the freezer aisle of a store and found that the cases look a little dark? Then, as you approach, the insides light up. I personally love that! It makes...
Zillow group makes rental listings agreement with Realtor.com

Realtor.com and Zillow ink new rental listings syndication agreement

Realtor.com® and Zillow announced a new agreement for Zillow to be the exclusive provider of multifamily rental listings on Realtor.com, generating additional exposure for listings to millions of renters. As part of the new agreement,...
increasing housing supply leads to improved housing affordability

NMHC responds to Biden’s SOU remarks on housing supply

NMHC urges lawmakers at all levels of government to enact policies and programs that will expand housing supply, which experts agree is the solution to broadening housing opportunity and making housing more affordable. We...
job openings

Three-bedroom units lose some luster as occupancy returns to pre-pandemic norms

The multifamily arena is finally returning to pre-pandemic norms and so are renter preferences for unit types. Three-bedroom units, which saw the greatest increases in occupancy during COVID, have settled back to...
Job openings, quits and hiring lead to employment gains

Employment rises despite lower job openings

The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in January was 8.86 million. This was reported to be down 26,000...
declining quality of multifamily CMBS loans

Multifamily CMBS delinquency rate lower in February

Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans declined slightly in February, falling 10 basis points. Overall CBMS delinquency rate declines For delinquencies, Trepp focuses on loans that are 30 or more...
multifamily property prices decline

Multifamily property price slide accelerates

CoStar reported that its value-weighted index of multifamily property prices fell 1.4 percent month-over-month in January 2024, the fifth decline in a row and the 16th decline in the last 18 months. This index...
new multifamily residential construction

Lower multifamily construction spending in January

The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in January was down 0.4 percent from the revised level of the month before. Spending on...
multifamily housing construction

Building more luxury apartments lowers rent for all classes

One of ten unintended consequences of rent control, according to the National Apartment Association, is that it reduces developers’ incentives to build new rental housing. Rent control has proven to backfire on...
Mary calls for use of whole building data

What will whole building data reveal?

“Don’t be upset by the results you didn’t get for the work you didn’t do.” --Unknown On January 25, 2024, HUD, the DOE and EPA joined forces in a superhero mashup to sign a joint...
multifamily housing rent increase

Rent growth turns positive in February

The latest rent report from Apartment List shows that the national median monthly rent growth in February was +0.2 percent, the first increase after 6 months of rent declines. Year-over-year rent growth was -1.0...
multifamily housing construction

NAHB: Multifamily housing construction will decline in 2024

Multifamily housing starts are predicted to decline in 2024, according to the National Association of Home Builders (NAHB). Meanwhile, the remodeling sector remains on solid ground and will hold steady this year. Multifamily starts totaled...
soft landing for economy means slowly declining inflation with positive GDP growth

Fannie Mae predicts a soft landing for economy

Fannie Mae’s February economic forecast calls for a steady decline in inflation while both GDP growth and employment growth remain positive, if subdued. The housing forecast predicts that multifamily starts will be higher in...
multifamily property prices

MSCI: Multifamily property prices lower in January

The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices in January fell 0.4 percent from their level of the month before. Prices were down 7.9 percent from...
Mary discusses water and energy

Exploring the energy-water nexus

I am normally not a Dane Cook fan. As far as comedians go, I am more of a George Carlin and Doug Stanhope fan. Stanhope’s “Kick How You Kick” piece basically gave me permission...
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