The Radix Review: Multifamily Trends Explained

This is a narration of our weekly Rent and Operating Trends Report. The Fed will meet on Tuesday and Wednesday this week, and economists anticipate another interest rate hike of 25 basis points, bringing the Fed Funds target rate to between 5.0% and 5.25%.  There is widespread speculation that this will be the last interest rate increase, as inflation metrics are trending downward, even if they re...

This is a narration of our weekly Rent and Operating Trends Report. Q1 GDP came in at 1.1% annualized, indicating a slowdown from recent quarters. Is this a precursor for a coming recession? The multifamily industry chugs along as we enter the middle of the prime leasing season. Don't miss out on this comprehensive overview of the multifamily market trends. Listen to the full episode and stay...

This is a narration of our weekly Rent and Operating Trends Report. Discover how inflation normalizing at 5% annual growth is affecting the market and why the Federal Reserve may halt rate hikes to prevent further economic slowdown. Our analysis also highlights the current stability of the multifamily market, including rent growth and occupancy rates across various regions in the United States. Do...

This is a narration of our weekly Rent and Operating Trends Report. For much of the past two years, the employment market has been the anchor of the U.S. economy, as strong job growth continuously countered the significant inflation and interest rate headwinds. However, that may be shifting, as the March jobs report missed expectations, the first miss in 12 months. This does not portend doomsday i...

This is a narration of our weekly Rent and Operating Trends Report. The US economy grew 2.9% in Q4 2022, Atlanta Fed predicts 1.7% for Q1 2023. Softening inflation fears have led to a drop in the 10-year treasury rate, which is good news for the multifamily transaction market. Fundamentals have improved across the board, with rising occupancy and net effective rent (NER) growth in many markets. Wh...

This is a narration of our weekly Rent and Operating Trends Report. Thus far, the U.S. economy is handling the recent banking crisis and last week’s interest rate hike well. Capital markets have remained stable and appear to be reacting positively to the Fed’s position on the economy. During his press conference following the last FOMC meeting Fed Chair Jerome Powell intimated that the monetary ti...

This is a narration of our weekly Rent and Operating Trends Report. After a turbulent week in the economy last week, all eyes will shift to the Federal Open Market Committee meeting, scheduled to take place Tuesday and Wednesday. The Fed has already begun slowing the pace at which they are raising interest rates, and economists believe that the failures of Silicon Valley Bank and Signature Bank ca...

This is a narration of our weekly Rent and Operating Trends Report. Another strong employment report was overshadowed by the collapse of two regional banks last week and over the weekend. Silicon Valley Bank was taken over by federal regulators and Signature Bank was closed by state regulators after concerns over the safety and availability of deposits led to a run on both banks. The Biden Adminis...

This is a narration of our weekly Rent and Operating Trends Report. This week, all eyes are on Capitol Hill as Fed Chair Jerome Powell begins a two-day testimony to Congress on interest rate hikes. Regional Fed Presidents have been advocating for more hawkish policy, and Powell's tone will likely dictate the Fed's next move. The February jobs report and inflation data will also impact th...

This is a narration of our weekly Rent and Operating Trends Report. The capital markets are experiencing volatility due to slightly higher than expected inflation numbers, causing investors to seek stability. However, employment remains strong with new unemployment claims falling below 200,000 for the fifth consecutive week. Multifamily rent and metrics were flat in February, except for Chicago, w...

This is a narration of our weekly Rent and Operating Trends Report. The U.S. economy continues to perform well as we progress through 2023. While oil prices have remained relatively range bound for the past 5 months, gasoline prices have begun to creep upward from their late December lows. With inflation continuing to run higher than expected, a significant rise in gas prices could again hurt the...

This is a narration of our weekly Rent and Operating Trends Report. The economy continues to churn forward as we approach the midpoint of the first quarter. Employment remains the strongest facet of the domestic economy, with job gains outpacing estimates and new jobless claims falling well below long-term averages. Tune in to find out more information on multifamily dynamics during the week of Fe...

This is a narration of our weekly Rent and Operating Trends Report. The US employment market is growing with over 500k new jobs and an unemployment rate of 3.4%. Sectors including leisure and hospitality, professional and business services, government, and healthcare are growing. Wages have increased 4.4% YoY, with a slowing pace seen as positive by economists. Corporate earnings mixed with econom...

This is a narration of our weekly Rent and Operating Trends Report. The multifamily real estate market is showing growth in traffic and improving leases. Traffic growth is led by Chicago and Charlotte, with an average increase of 0.7 tours per property nationwide. Occupancy rates are improving, and NER increases 10 basis points nationwide, expected to rise further in March. Gateway markets and sec...

This is a narration of our weekly Rent and Operating Trends Report. The employment market remains strong despite recent big tech layoffs. Apartment fundamentals had a positive week, with net effective rents nationwide picking up and key metrics such as traffic, leases, and available to rent improving. Nashville, Dallas, Houston, and Denver led in traffic increases, while Nashville, Denver, Jackson...

This is a narration of our weekly Rent and Operating Trends Report. The global economy is expected to face challenges in 2023, but it is not predicted to experience a major downturn. Inflation is starting to reverse course and the Federal Reserve's interest rate increases to combat it have not yet negatively affected the employment market. The multifamily housing market has seen slight dips i...

This is a narration of our weekly Rent and Operating Trends Report. Despite major tech industry layoffs, the employment market remained healthy at the end of 2022 with 223,000 jobs added in December. Wages increased and speculation suggests inflation will continue to decrease. Multifamily fundamentals were quiet, with occupancy showing signs of bottoming and NER falling slightly. The Fed's ne...

This is a narration of our weekly Rent and Operating Trends Report. As we look ahead, there will undoubtedly be challenges for the multifamily industry in the coming year. The macro-economy continues to soften driven mostly by persistent inflation and the resulting monetary tightening. For much of the past 14 years, interest rates hovered at or near zero.  Tune in to find out more information on m...

This is a narration of our weekly Rent and Operating Trends Report. The U.S. economy will end 2022 in a far different place from where it began the year. There were both expected and unexpected factors that weighed on the economy this year. Inflation began rising last year, and the Fed’s reaction to rising inflation was top of mind for many when 2022 began. True to form, inflation dominated the ec...

This is a narration of our weekly Rent and Operating Trends Report. As we approach the end of 2022, the last few major economic indicators will be released this week. The Consumer Price Index decelerated once again in November falling to 7.1% on an annualized basis from 7.7% in October.   Tune in to find out more information on multifamily dynamics during the week of December 11th. Explore our web...

This is a narration of our weekly Rent and Operating Trends Report. Last week was a strong week for economic indicators as both the GDP and employment report exceeded analysts’ expectations. In its second estimate, GDP was revised upward to an annualized rate of 2.9% in the third quarter. The increase represents a sharp bounce back from contraction in the first two quarters of this year.  Tune in...

This is a narration of our weekly Rent and Operating Trends Report. After a short and quiet Thanksgiving week, economic data releases return in full force with a number of metrics set to be shared this week. GDP and November employment data will likely dominate the headlines, but the Personal Consumption Expenditures index, the Fed’s preferred inflation gauge, will be announced. Tune in to find ou...

This is a narration of our weekly Rent and Operating Trends Report. U.S. retail sales accelerated in October after three consecutive months of mixed results. On a seasonally adjusted basis, retail sales increased 1.3%, providing further support that the American consumer remains well capitalized and willing to spend. Tune in to find out more information on multifamily dynamics during the week of N...

This is a narration of our weekly Rent and Operating Trends Report. The US midterm elections will result in a split congress with Democrats maintaining control of the Senate while Republicans will likely win a narrow majority in the House. As a result, I do not expect any sweeping legislation in the next two years, but as President Biden has intimated, there will hopefully be some bipartisan resol...

This is a narration of our weekly Rent and Operating Trends Report. The U.S. economy received another positive sign last Friday, as the October jobs report once again outperformed expectations. While the overall number of new jobs added was the lowest since the end of 2020, the 261,000 new positions exceeded analyst expectations. Tune in to find out more information on multifamily dynamics during...