This is a narration of our weekly Rent and Operating Trends Report.
In the wake of a higher-than-expected inflation report, the theme from many Fed Governors last week was patience in determining when the first interest rate hike would be. The Consumer Price Index came in higher than many economists expected for January, which led to an equity market sell off and an increase in treasury yields. Both are indicators that the market expects the Fed to wait longer than previously anticipated before dropping interest rates. Long term inflation continues to come down however, and the annualized CPI fell to 3.1%.
The multifamily market had another strong week last week, as rents and occupancy rates rose in many markets across the country. The leading indicators, including traffic and leasing were mostly flat, but key operating metrics continue to put forth a strong showing through the first six weeks of the year. Occupancy has been the most consistent outperforming metric thus far, as demand continues to hold up against the pressure of new supply.
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Explore our webpage for more insights and resources:
https://bit.ly/Radix_Website
