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 next policy meeting is on January 31st when inflation will drive rate hikes.
Tune in to find out more information on multifamily dynamics during the week of January 8th, 2023.
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