This is a narration of our weekly Rent and Operating Trends Report.
The U.S. economy is starting to flash warning signs of a slowdown that many predicted would come sooner. Q2 GDP was revised downward last week to an annualized pace of 1.3%, 30 basis points below the first estimate in April and more than 200 basis points below the pace of growth from Q1. Key manufacturing indicators are also pointing to a slowdown in the U.S. Later this week we will get the May employment report which should give us a good indication of whether the weak report in April was an anomaly, or the beginning of a larger trend.
Multifamily indicators were mixed last week, and mostly flat for the month of May. Traffic and leasing have remained unchanged for the past few weeks, and I believe we have seen the peak for both leading indicators this year at the national level. Rent growth and occupancy continue to improve as they dig out from the now two-year slumps.
Explore our webpage for more insights and resources:
https://bit.ly/Radix_Website
Explore our webpage for more insights and resources:
https://bit.ly/Radix_Website
