In 2023, 2,520 different multifamily lenders provided a total of $246.2 billion in new mortgages for apartment buildings with five or more units, MBA reported.
News in end use
US Weekly Initial Jobless Claims Decline in the Week Ending August 10th
The advance figure for seasonally adjusted initial unemployment claims was 227,000, a decrease of 7,000 from the previous week’s revised level.
US Residential Building Materials Costs Decline in July
The seasonally adjusted PPI for softwood lumber fell 1.04% in July, after rising 3.29% in June.
US Consumer Price Index Increases 2.9% Year-Over-Year in July
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis, after declining 0.1% in June.
Mortgage Applications Increase in the Week Ending August 9th
Mortgage loan application volume increased 16.8% on a seasonally adjusted basis from one week earlier.
US New-Home Completions Remain Wood-Framed, but Numbers Decreased in 2023
There were 930,000 wood-framed homes completed in 2023, NAHB reports. This is a 3% decrease compared to 2022.
US Producer Price Index for Final Demand Increases in July
The Producer Price Index (PPI) for final demand, seasonally adjusted, advanced 0.1% in July.
US Median Asking Rent Declines in All Bedroom Counts in July—A First Since June 2020
Redfin reported that the median asking rent fell year-over-year across all bedroom counts in July—the first time that’s occurred since June 2020.
NFIB Small Business Optimism Index Trends Higher in July but Remains Below 50-Year Average
The NFIB Small Business Optimism Index increased 2.2 points to a reading of 93.7. The last time the SBOI was this high was in February 2022.
Value of Canadian Building Permits Shrinks in June, Marking Second Consecutive Decline
The total value of building permits in Canada fell 13.9% to $9.9 billion (CAD) in June, extending the decline observed in May.