STR and Tourism Economics lifted their year-over-year growth projections for hotel average daily rates and revenue per available room in their final hotel forecast revision of 2023.
Category: News and Trends
CMF Quote of the Week: Nov. 30, 2023
“Single-family rent growth eased again in September and is now back to the rate recorded before the pandemic.”
–Molly Boesel, Principal Economist for CoreLogic
Dealmaker: Eastern Union Closes on $74M Refinance for New Jersey Property
Eastern Union, New York, announced it closed on a $74.2 million transaction to refinance a construction loan for a multifamily property in northern New Jersey.
CMF Quote of the Week: Nov. 16, 2023
“A cap of $70 billion for each of the GSEs is reasonable, given the challenging market conditions and high interest rate environment expected in 2024.”
–MBA President and CEO Bob Broeksmit, CMB, on FHFA’s 2024 Multifamily Loan Purchase Caps
MBA’s Statement on FHFA’s 2024 Multifamily Loan Purchase Caps
MBA President and CEO Bob Broeksmit, CMB, released a statement regarding the Federal Housing Finance Agency’s (FHFA) announcement of the 2024 multifamily lending purchase caps for Fannie Mae and Freddie Mac (the GSEs).
CREF Policy Update Nov. 16: FHFA Releases Report on FHLBs
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Fannie Mae: Record-High 85% of Consumers Call It a Bad Time to Buy a Home; Most Expect Rental Prices to Increase
The Fannie Mae Home Purchase Sentiment Index remained largely flat in October, as consumer frustration toward housing unaffordability and an economy battling inflation continues to depress overall sentiment.
MISMO Seeks Public Comment on Updated Engineering Guidelines
MISMO, the real estate finance industry’s standards organization, announced that it is seeking public comment on the updated MISMO Engineering Guideline (MEG) 7. The 30-day public comment period runs through Dec. 8, 2023.
Institutional Target Allocations to Real Estate Remain Flat for the First Time Since 2013
Institutional target allocations to real estate are flat for the first time in 10 years at 10.8%, finds the 11th annual Institutional Real Estate Allocations Monitor, published by Hodes Weill & Associates and Cornell University’s Baker Program in Real Estate.
Yardi Matrix Increases Multifamily Completion Forecast for 2024, 2025
Yardi Matrix, Santa Barbara, Calif., reported multifamily construction starts increased slightly in the third quarter, and overall construction levels should yield an uptick for 2024 and 2025 completions.