Single-family rentals (SFR) are fueling rent growth across the country as homeownership remains challenging due to significant upfront costs and unpredictable mortgage rates.The asking rent for a typical single-family home was $2,174 in December, according to Zillow data. That’s up 4.4% from last year and 40.6% over the past five years. By comparison, multifamily rents grew just 2.4% from last year and 26.2% over the past five years, according
Every major capital source for commercial mortgage debt increased its holdings of mortgages during the third quarter of 2024.The level of commercial/multifamily mortgage debt outstanding increased by $47.7 billion (1.0 percent) in the third quarter of 2024, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report, released recently.Total commercial/multifamily mortgage debt outstan
Apartment market conditions declined in the National Multifamily Housing Council’s (NMHC’s) most recent Quarterly Survey of Apartment Market Conditions, released Tuesday. All four indices – Market Tightness (40), Sales Volume (41), Equity Financing (48) and Debt Financing (32) – came in below the breakeven level of 50, signaling less favorable conditions this quarter. “Census data show that more apartments were delivere
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On Martin Luther King Jr. Day, we reflect on the legacy of a leader who dreamed of a better, more equitable future for all. At the heart of his vision was the belief in strong, united communities where everyone has the opportunity to thrive. In real estate, we see this dream come to life by helping individuals and families find a place to call home. Today, we honor Dr. King’s contributions and recommit ourselves to fostering inclusion, equality
This week marks the fifth consecutive week for mortgage rate increases.Home buyers are facing higher borrowing costs in the new year, with the 30-year fixed-rate mortgage jumping to a 7.04% average this week, according to Freddie Mac. It’s the first time that rates have crossed the 7% mark since last May. The latest numbers on consumer prices, which were released this week, showed inflation rising in December. But housing economists note
If you are financing your home purchase, you will likely be required to get a home appraisal as one of the steps between signing and close. Here’s what you should know:What is an appraisal? An appraisal is an opinion on a home’s market value that helps a lender ensure the purchase price is in line with the property value. The process is led by a licensed or certified residential appraiser—an independent third party engaged by the lende
Between signing and close, a homebuyer may choose to have a new home inspected to make sure it is in good condition and safe for a new owner. Here’s what buyers and sellers should know:What is a home inspection? A home inspection is an assessment of a home’s condition in which an inspector identifies potential problems in a home’s structure, exterior, roof, plumbing, electrical systems, heating and air conditioning, interiors, ventila
Greystar is set to face a federal lawsuit as soon as this week over allegations the nationwide developer and manager of apartment buildings stuck renters with millions of dollars in hidden fees, according to people familiar with the probe.The US Federal Trade Commission has prepared a suit accusing the company — the largest third-party apartment manager in the US — of falsely advertising rental prices by failing to inform potential rente
Getting a home ready for potential buyers can feel a bit overwhelming, but it’s really about making the space look its best. Here are some tips to do just that.1. Declutter and create space: Before staging, go through each room and remove items that are no longer needed. This makes a space appear larger and helps with packing for a move. In smaller units, three key tricks can create the illusion of more space. First, opt for lighter shades
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