A report from The Real Deal. "A decade-long apartment boom may be coming to an end. Federal data shows that multifamily building permits have declined every month since March, the Wall Street Journal reported. According to the latest Census Bureau data, permits were pulled to build 351,000 units in new properties with at least five units in September. That represented a 9 percent year-over-year decrease."

"Developers added 347,000 apartments across the U.S. last year, which contributed to rent growth that weakened from 5 percent in 2014 to 2.9 percent in the third quarter of 2018, according to RealPage."

From King 5 News in Washington. "Alex Casey, a policy advisor on the economic research team at Zillow, said Seattle's market has seen a cooling trend over the last year, but that home values continue to steadily rise. He also noted in some neighborhoods -- like the University District, Capitol Hill, and Fremont -- rents have actually fallen several percentage points. He attributed that to more housing units coming online."

"'We've just been building more apartment units,' Casey said. 'It could potentially fall even more, which would be lucky news for some renters.'"

From Multi-Housing News on Colorado. "Denver’s multifamily market continues to thrive, bolstered by a strong economy and positive demographic trends. Development in both the multifamily and office sectors has stayed strong, with 26,000 apartments and more than 2.4 million square feet of office space underway as of August."

"Multifamily transaction activity has softened compared to last year, with a total investment level of roughly $1.9 billion. The decrease in volume and per-unit prices was largely due to investors focusing on value-add opportunities, as they target higher yields. With deliveries expected to cross the 16,000 mark by year-end, we expect rents to continue their rise at a moderate pace."

The Star Tribune in Minnesota. "Developers are on track to build a near-record number of rental apartments in the Twin Cities. Through September, 3,920 new units have hit the market, 10 percent more than last year, according to Marquette Advisors. That doesn’t include more than a dozen rental projects reviewed Tuesday by the Minneapolis Planning Commission, including a pair of high-rise towers and a half-dozen midsize buildings."

"That flurry of new projects will help make 2018 what is expected to be the second-busiest year for apartment construction on record despite growing concerns about the depth of demand in some areas. To date, 2014 was the record with 4,451 new units."

"'The mood is cautiously optimistic,' said Matthew Rauenhorst, vice president and general manager with Opus Development Co., which recently completed a luxury high-rise in downtown Minneapolis and is about to break ground on a luxury apartment building overlooking the Mississippi River."

"He cites a healthy local economy and strong job growth as the primary drivers of additional demand, but a fully loaded pipeline of new proposals is reason for caution. 'How many of these proposed projects will get built and when will they get built?' he said. 'We will have to wait and see.'"

"Some submarkets are beginning to soften. In some areas, leasing activity is slowing, vacancy rates are on the rise and property managers are offering one-time inducements to encourage renters to sign a lease."

"All eyes are now on downtown Minneapolis, where construction has been the most robust, developers are most concerned and rents are the highest. The average rent in that submarket is $1,728, which is now 6.7 percent higher than it was last year. The average vacancy rate is 3.5 percent — a stunningly low figure considering how many new units have been built. But when you factor in the more than 1,200 new units opening so far this year, the true vacancy rate is 8.4 percent."

From Boston.com in Massachusetts. "The average sale price for condos decreased in six Boston neighborhoods but sharply increased in others in the third quarter, according to a new analysis by Berkshire Hathaway HomeServices Warren Residential."

"Beacon Hill: A 16 percent drop, from $1,608,561 in the third quarter last year to $1,349,938 this year; Charlestown: A 0.86 percent decline, from $712,878 to $706,677; Downtown: A 6.99 percent decrease, from $1,765,447 to $1,378,764; Fenway/Kenmore: A 14.27 percent drop, from $713,095 to $611,304; South End: A 4.6 percent decline, from $1,299,323 to $1,239,499; Waterfront: A 2.5 percent decrease, from $1,283,877 to $1,251,399."

"'There’s a lot of supply that’s on the market,' said Shayan Jalali, a realtor with Berkshire Hathaway. 'A lot of new construction that’s been added to inventory recently, so buyers just have more to choose from than before.'"