The Radix Review: Multifamily Trends Explained

Last year, weekly traffic for multifamily properties peaked during the first week of May at a national level, and it appears the pattern could be repeating again in 2025. Traffic counts have been down slightly in the last two weeks, and they are back to levels from early March.  In 2024, the U.S. occupancy rate peaked approximately eight weeks after traffic began to decline, which is not surprisin...

Annual effective rent growth was 0.8% for the U.S., and the average occupancy rate was 93.67%. While multifamily performance has certainly improved in many markets compared to a year ago, improvements in the national average have somewhat stalled since the beginning of leasing season... Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

The latest U.S. jobs report was stronger than expected, especially given the generally economic uncertainty often echoed by media reports. While there are a few caveats to the report, the positive tone should not have been too surprising given the recent performance for multifamily.  U.S. annual effective rent growth was 0.9% for the latest week, but many markets and submarkets have returned to gr...

Multifamily operational performance remained steady from the prior week and showed no signs of demand being impacted by headlines about the economy. Nationally, effective rents were up 1.0% from the prior year and the average occupancy rate was just under 93.7%. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

Annual effective rent growth for multifamily increased slightly to 1.0% for the U.S. average. Occupancy checked in just above 93.7%.  This week's report also details how job growth expectations have changed for 2025, which could impact demand for housing this year. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

Tariffs have dominated headlines. In this week's report, we cover the recent developments and how they could potentially impact demand for multifamily housing... Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

While U.S. annual effective rent growth averaged just 0.5% in Q1, it was much better than the -3.3% growth a year ago. Rent growth was still negative in some markets, but the pace improved from the prior year in 35 of 45 markets. Check out this week's report for the latest stats, as well as one factor that is likely contributing to higher resident retention... Explore our webpage for more ins...

According to a recent report from the National Association of Realtors, 4.26 million homes were sold in February on a seasonally adjusted basis. The total was up 4.2% from the prior month, and it was stronger than the 3.2% increase expected by economists surveyed by The Wall Street Journal.  Despite the strong sequential growth in sales, the volume was down 1.2% from a year ago and the industry co...

The new administration is rapidly implementing many of the policies touted on the campaign trail. While the changes are meant for the long-term impact, consumers are becoming worried about the economy in the near term with so many large movements in a short period.  Tariffs, job cuts in the federal government, changes in government funding, and other factors led to the University of Michigan’s sur...

The U.S. labor market added 151,000 jobs on a seasonally adjusted basis in February according to last week’s report by the Bureau of Labor Statistics (BLS). While the number was roughly 20,000 to 30,000 jobs below economists’ expectations, it was stronger than the 125,000 jobs added in January. Other macro indicators, such as a tight unemployment rate of 4.1% and strong annual wage growth at 4.0%,...

Last year’s home sales were at lowest level in almost 30 years A recent report by The Wall Street Journal cited preliminary data from the National Association of Realtors. High prices and elevated mortgage rates were among key factors causing existing home sales to decline to 4.06 million in 2024, down slightly from 4.09 million in 2023.  For comparison, the years during the Great Recession even h...

Job growth to slow in 2025, but remain positive This week’s economic analysis will focus on the results of the quarterly survey of economists by The Wall Street Journal, which includes aggregated forecasts of more than 70 economists. The report, which was released last weekend, showed the chance of a recession was just 22% for2025, the lowest since January 2022. The average projection for job grow...

Job growth closes 2024 unexpectedly strong The U.S. labor market added 256,000 jobs on a seasonally adjusted basis in December according to last week’s report by the Bureau of Labor Statistics (BLS). The growth was much stronger than the roughly 150,000 jobs expected by economists. The unemployment rate remained low at 4.1%. On one hand, it is a great sign to see robust job gains, especially for t...

U.S. Annual Effective Rent Growth Turns Positive The Bureau of Labor Statistics (BLS) will release its final national jobs report this Friday. In all, the labor market was much stronger in 2024 than many economists predicted. The final report should show roughly 2 million jobs were added last year, and the unemployment rate hovered in the low 4% range. Economists will be anticipating upcoming rele...

U.S. job growth bounced back in November After a dismal report for October, job gains were strong in November with 227,000 jobs added to the U.S. economy on a seasonally adjusted basis. It outperformed the consensus expectations of approximately 200,000 jobs. October’s report of 12,000 jobs added, which was revised up to 36,000 jobs, was influenced by special circumstances related to two hurricane...

This is a weekly narration of our weekly Rent and Operating Trends Report. Consumer confidence reaches a 16-month high Based on a report from the Conference Board, consumer confidence improved in November to one of its highest levels in the last three years. An optimistic outlook on the labor market, a declining risk of a near-term recession, and expectations of lower inflation all contributed to...

This is a weekly narration of our weekly Rent and Operating Trends Report. Existing home sales picked up in October Based on a report from the National Association of Realtors, existing home sales increased 3.4% from September to 3.96 million in October on a seasonally adjusted annual basis. The annual volume of home sales had declined in six of the previous seven months. Sales were up 2.9% compar...

This is a weekly narration of our weekly Rent and Operating Trends Report Slight Uptick in Inflation, but U.S. Economy Still in Good Shape Based on data from the Bureau of Labor Statistics, consumer prices increased 2.6% in October from the prior year. Core prices, which exclude food and energy, increased 3.3% on an annual basis. Both numbers met economists’ expectations. Despite a slight increase...

This is a weekly narration of our Rent and Operating Trends Report Fed Cuts Rates Again, Notes Low Growth for Market Rents The federal funds rate was lowered by 25 basis point last week following a 50-point cut in September. The Fed is trying to keep the labor market in solid shape while also managing inflation. Discussing inflation, Fed Chair Powell made a reference to the rental housing market....

This is a weekly narration of our Rent and Operating Trends Report U.S. Job Growth Slowed Significantly in October Based on last week’s report from the Bureau of Labor Statistics (BLS), the U.S. labor market added 12,000 jobs in October. It was the lowest monthly total since December 2020, but sluggish growth was expected due to some special circumstances. Impacts from the hurricanes, a strike by...

This is a narration of our weekly Rent and operating Trends Report. Top Metros for Job Growth Last week, the Bureau of Labor Statistics (BLS) released its monthly report on metro-level job growth. It is one of the most important indicators of multifamily demand because new jobs tend to create new households, and a portion of them will move into apartments.  On a seasonally adjusted basis, New York...

This is a narration of our weekly Rent and Operating Trends Report. Retail Sales Stronger than Expected, Again Consumer spending outpaced expectations in September, and August’s better-than-expected results were unrevised. Retail sales were up 0.4% from the prior month and 1.7% from a year ago. Discretionary spending at restaurants, drinking establishments, and clothing stores helped boost the num...

This is a narration of our weekly Rent and Operating Trends Report. Economists predict 1.5 million jobs to be added in the next 12 months At the beginning of each quarter, The Wall Street Journal surveys more than 70 economists on a variety of topics. For the October 2024 results, the group predicted an average of 130,397 jobs to be added per month for the next year, or a total of more than 1.5 mi...

This is a narration of our weekly Rent and Operating Trends Report. Jobs Report Much Stronger Than Expectations The U.S. economy added 254,000 jobs in September according to the Bureau of Labor Statistics(BLS), which was roughly 100,000 more jobs than expected. Additionally, the preliminary results for July and August were revised upward by a combined 72,000 jobs, suggesting the labor market remai...

This is a narration of our weekly Rent and Operating Trends Report. Fed Chair Jerome Powell Gives Positive Outlook Speaking to attendees at the National Association of Business Economics annual meeting, the Fed’s leader provided an optimistic view of current economic conditions. While acknowledging that the labor market has cooled from an unsustainable pace, Powell also noted a relatively low unem...