This is a narration of our weekly Rent and Operating Trends Report.
The U.S. economy ended the first quarter on strong footing with most economic indicators reporting growth. The final estimate of Q4 GDP showed the economy expanded at a 3.4% annualized rate, bringing the 2023 full year growth to 3.1%. Despite restrictive monetary policy, economic growth continues to outperform. Job growth remains strong, and inflation continues to moderate. The equity markets are doing well, as the S&P 500 is up more than 10% so far this year. As American consumers and businesses continue to adapt to life in a new and higher interest rate paradigm, the economy has not yet shown signs of deteriorating.
Multifamily fundamentals continue to increase as we move into the second quarter, however, the pace of growth is not fast enough to keep up with last year’s results. All key indicators remain negative on a year-over-year basis at the national level. Furthermore, the divergence between markets with strong performance and markets searching for a bottom continues to widen as the effect of new supply weighs heavily on key markets in the sunbelt.
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
