Reports on the apartment market continue to show declining rent performance at the national level, but there is considerable variation among different markets, with midwestern markets receiving more attention for their strong, positive performance compared to many of the previously high performing markets in the South and West. In the broader economy, middling jobs numbers could mean that the Federal Reserve is less inclined toward another sharp increase in the Federal Funds Rate, but we have not yet felt the full effects of this year's rate hikes, which will continue to shape the multifamily market throughout 2023.
Sources discussed in this episode:
ADP: “Employment Report” - https://adpemploymentreport.com/
GlobeSt: “Federal Reserve Watchers Wondering If It Will Finally Slow Rate Hikes” - https://www.globest.com/2022/11/29/federal-reserve-watchers-wondering-if-it-will-finally-slow-rate-hikes/
Colliers: “Capital Markets U.S. Snapshot, Q3 2022” - https://www.colliers.com/en/research/capital-markets-market-snapshot-q3-2022
Apartment List: “National Rent Report” - https://www.apartmentlist.com/research/national-rent-data
RealPage: “Loss to Lease Markets to Watch in 2023” - https://www.realpage.com/analytics/loss-to-lease-markets-to-watch-in-2023/
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DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest.
