multifamily Multifamily Permits Slide 12% as Financing Tightens Multifamily permits for buildings with five or more units declined 12% year-over-year in the first quarter as financing conditions remained tight.
Dallas Dallas-Fort Worth Leads Construction Activity in 2026 Dallas-Fort Worth issued 28,400 single-family housing permits in 2025, the most of any U.S. metro, on pace to lead again in 2026.
cap rates Rental Cap Rates Compress in Major Metros as Demand Holds Prime stabilized multifamily cap rates compressed 15 basis points in six top metros during the first quarter as investor demand firmed.
Las Vegas Las Vegas Home Prices Return to Pre-Pandemic Peak The median single-family home price in Las Vegas reached $478,000 in March, matching the pre-pandemic peak of 2007 after a 16-year recovery.
iBuyer Opendoor Expands Operations Despite Industry Headwinds Opendoor expanded into three new U.S. metros in the first quarter of 2026, bringing its active market count to 51 despite sector profitability pressures.
1031 Exchange 1031 Exchange Activity Drops as Rate Uncertainty Persists Section 1031 exchange volume declined 18% year-over-year in the first quarter as rate uncertainty and narrower spreads kept investors sidelined.
Tax Credit Tax Credit Expansion Offers Up to $15,000 for First-Time Buyers Legislation to expand a federal first-time homebuyer tax credit to $15,000 advanced in the Senate Banking Committee with bipartisan support.
Atlanta Atlanta Becomes Top Market for Out-of-State Migration Atlanta led U.S. metros for net domestic in-migration in 2025, receiving 58,000 more arrivals than departures according to Census Bureau estimates.
NYC NYC Rent Stabilization Board Approves 2.75% Increase The New York City Rent Guidelines Board approved a 2.75% increase on one-year lease renewals for rent-stabilized apartments, effective October 1.
Zoning Zoning Reform Passes in Minneapolis, Opening Single-Family Lots Minneapolis adopted a new citywide zoning code allowing up to four units on formerly single-family parcels, expanding on the landmark 2018 reforms.
REITs REITs Outperform S&P 500 in First Quarter 2026 The FTSE Nareit All Equity REITs Index returned 8.4% in the first quarter of 2026, outperforming the S&P 500's 3.1% total return.
Miami Miami Condo Inventory Surges as New Safety Rules Take Effect Miami condo inventory rose 48% year-over-year in March as Florida's post-Surfside structural inspection requirements pushed older-building owners to sell.
Denver Denver Market Sees Sharpest Price Cuts in Five Years Denver home sellers made price reductions on 42% of active listings in March, the highest rate since 2020 and up from 28% last year.
Insurance Homeowners Insurance Crisis Spreads Beyond Florida and California Louisiana, North Carolina, Oklahoma, and Colorado are among states where homeowners insurance rates rose by more than 25% over the past 18 months.
First-Time Buyers First-Time Buyer Share Falls to Record Low, NAR Reports First-time buyers accounted for just 24% of U.S. home purchases in 2025, a record low since NAR began tracking the metric in 1981.
Foreclosure Foreclosure Filings Rise in Five States as Forbearance Ends Foreclosure starts rose 14% year-over-year in March in five states as pandemic-era loss mitigation options continued to wind down.
house hacking House Hacking Returns in 2026 Despite Rate Environment First-time buyers are increasingly using house-hacking strategies to offset high rates, with 18% of sub-35 FHA buyers purchasing two-to-four unit properties.
Phoenix Phoenix Rental Market Cools as New Multifamily Opens Phoenix apartment rents fell 3.3% year-over-year in March as 28,000 new units delivered in the past 18 months and vacancy climbed to 9.4%.
Investors Investor Purchases Drop to 16% of Transactions in Q1 2026 Investor purchases accounted for 16% of U.S. home transactions in Q1 2026, down from 22% in 2022, as higher borrowing costs pressured returns.
Rent Growth Rent Growth Slows Nationally as New Supply Hits Market National asking rents rose just 0.7% year-over-year in March, the slowest pace since 2010, as new multifamily deliveries absorbed demand.
Seattle Seattle Condo Prices Drop 6% Year-Over-Year The median Seattle condo sale price fell 6.2% year-over-year in March to $485,000 as inventory expanded and tech-sector demand cooled.
VA loans VA Loan Volume Grows 8% Amid Tight Conventional Lending VA-backed mortgage originations rose 8% year-over-year in the first quarter, a bright spot in an otherwise challenging lending environment.
FHA FHA Loan Limits Increase to $524,225 for 2026 Baseline The Federal Housing Administration raised the baseline FHA loan limit to $524,225 for 2026, an increase of 4.5% from the prior year.
Short-Term Rentals Short-Term Rental Regulations Tighten in Five Major Cities New York, Boston, Denver, Portland, and Honolulu have all enacted tighter short-term rental regulations effective in the first half of 2026.
Austin Austin Housing Market Stabilizes After Two-Year Correction Austin home prices ticked up 0.4% year-over-year in March after two years of declines, suggesting the metro's correction may be nearing its end.
