Items Tagged with 'multifamily'


  • FHFA moves to curb Fannie Mae, Freddie Mac green loans for multifamily

    Regulator raises lending caps for GSEs but ends the energy-efficiency carve-out
    The federal regulator for Fannie Mae and Freddie Mac announced changes on Friday to tweak its role in the multifamily mortgage market. The FHFA boosted the multifamily lending caps for the nation’s two largest mortgage financiers to $100 million each, but that won’t necessarily increase volume because it also ended the exemption for “green loans” that had swelled the GSEs’ balance sheets. The regulator also announced it was reclassifying loans in some rural areas and high-cost areas as counting toward the GSEs’ affordable housing goals.
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  • Multifamily originations to hit all-time high in 2020

    Low interest rates to drive significant growth in 2019, 2020
    Multifamily originations are set to hit yet another all-time high in 2019 and again in 2020, according to the Mortgage Bankers Association. This year, the MBA forecasted that commercial and multifamily mortgage bankers will close a record $652 billion in loans backed by income-producing properties this year, an increase of 14% from last year’s $574 billion.
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  • G5 expands its executive ranks by welcoming two new key hires

    Karen Blue and Kathie Cook join the company's multifamily team
    G5, a real estate SaaS company, recently expanded its multifamily leadership team, welcoming two new executives to the company, including Karen Blue and Kathie Cook. According to the company, Blue has been appointed to the position of vice president of national accounts and Cook has assumed the position of key account executive.
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  • Expect continued apartment development boom in these 5 metros

    Cities saw rapid growth this year, expect similar pace in 2020
    Last month, Freddie Mac predicted 2019 would be a banner year for multifamily. That trend is expected to continue in 2020, particularly in Charleston, South Carolina; Colorado Springs, Colorado; Salt Lake City, Utah; Raleigh, North Carolina; and Louisville, Kentucky; according to a recent study by Yardi Matrix.
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  • Manhattan apartment rents rise as New Yorkers delay home purchases

    New purchase taxes has buyers "camping out" in rentals, says Douglas Elliman
    The median rent for a Manhattan apartment rose to $3,595 in July, a 5.7% gain from a year earlier, and reached a new high of $3,000 in Brooklyn, up 1.7%, as potential homebuyers waited to see what effect the state’s “mansion tax” would have on New York’s real estate. “This is partly a result of the ongoing uncertainty in the sales market, with potential buyers still camping out,” said Hal Gavzie, executive manager of leasing for Douglas Elliman.
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  • Multifamily occupancy rates keep rising

    More Millennials opt to rent instead of own
    Apartment occupancy rates climbed in July to their highest level since 2000, according to a report from RealPage, which revealed that occupancy rates rose 0.4% from last year to reach 96.2% last month. Meanwhile, average rent prices across the U.S. remain around $1,414, as a number of Millennial renters keep demand strong.
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  • Multifamily developers struggle to keep up with Austin's booming job market

    Rent growth expected to rise again
    In March, Austin’s employment growth rate climbed to 2.5%, far above the nation’s average of 1.6%. With Apple and Amazon both announcing further job expansions within Austin, there doesn’t seem to be an end in sight with regard to job growth. In the midst of it all, rent growth rose at a 3.7% rate through April. 
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  • Freddie Mac: It will be another banner year in multifamily

    Low rates will spur investments, drive up originations
    It looks like the multifamily sector is set to have another strong year thanks to a combination of factors that will fuel demand for rental housing. According to Freddie Mac’s midyear outlook, 2019 will see a robust rental market as the nation’s housing shortage, a strong labor market and low interest rates create a potent recipe for multifamily growth.
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  • Rental vacancies fall to historic low as home sales slow

    Despite the demand, Capital Economics predicts slowdown in multifamily development
    According to a recent report from Capital Economics, the slowdown in home sales is feeding the rental demand. The amount of rental households nationwide rose to 600,000 in the second quarter of 2019, according to the Census Bureau, and accounted for the largest gain in three years. Even with the increase, rental vacancies have stayed low, Capital Economics reports. 
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  • Portland sees slowdown in rent growth

    The increase in rent is only half of the national rate
    According to a recent study by Yardi, year-over-year rent growth in Portland slowed to 1.2% as of May. During this same period, Phoenix led the nation in rent growth, with a rate of 6.8%. For comparison, the U.S. average rent growth sits at 2.5%. 
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