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. While NER in most markets is increasing, Salt Lake City and Jacksonville lag behind with the largest NER declines last week.
Tune in for more information on multifamily dynamics during the week of April 3rd 2023.
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