This week’s multifamily roundup takes a look at national apartment rents, multifamily originations and macroeconomic factors impacting the housing market. First, RENTCafé reports that U.S. average rent growth remained strong in March, with over 90% of the nation’s largest cities seeing increases year-over-year. Next, MBA notes that multifamily lending had a record year in 2018 due to solid fundamentals, a low interest rate environment and rising property prices. Arbor’s Chatter blog takes a look at the emerging trend of older renters living on their own, with small multifamily assets seeing the most growth from this age cohort. Then, Nareit analyzes the connection between REIT performance and long-term interest rates, noting that the relationship is positive once again due to a robust economy. Finally, First American offers a video interview of its Chief Economist discussing the economic trends influencing the housing industry, including the labor market and wage growth.

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 The Average National Apartment Rent Kicks Off the Spring Rental Season at $1,430

RENTCafé – April 11

“92% of the country’s largest 253 cities have seen rents grow in March year-over-year, 6% of rents remained unchanged, while 2% of cities experienced rent drops compared to 2018.”

Mortgage Bankers’ 2018 Commercial/Multifamily Originations Rise to Record $573.9 Billion

MBA – April 11

“Solid fundamentals, growing property values, low interest rates and strong appetites from both borrowers and lenders all helped drive an 8% increase in recorded multifamily lending from a year ago.”

Older Renters are Increasingly Living Alone

Arbor Chatter – April 9

“A growing share of older renters is living alone, with small asset properties experiencing robust gains from this demand segment.”

 REITs and Interest Rates: A Positive Shift in the Market

Nareit – April 11

“REIT share prices generally rise as interest rates increase during periods of strong economic growth. The positive relationship is because a more robust economy boosts REIT earnings and the value of the buildings they own, while interest rates rise due to the demand for credit (and possibly inflation).”

Discussing the Macro-Economic Trends Influencing the Housing Market

First American – April 11

“First American Deputy Chief Economist Odeta Kushi was interviewed on Bloomberg earlier this month, providing her thoughts on macro-economic trends influencing home buyers and the housing market, including the job market and wage growth.”