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A Full Account of the Housing Market in 2023
The multifamily market continues to steadily improve, with solid underlying fundamentals but softer demand in areas that have seen a major influx of supply, a situation that lines up with the mixture of positive and negative indicators for the broader housing market and for the economy as a whole. Both home prices and rents have recently shown negative year-over-year numbers, but they are increasing on a monthly basis and are showing greater strength as the summer months continue.
Sources covered in this episode:
Harvard Joint Center for Housing Studies: The State of the Nation’s Housing 2023 - https://www.jchs.harvard.edu/state-nations-housing-2023
Fannie Mae: “Mixed Data Muddles Macroeconomic Forecast” - https://www.fanniemae.com/research-and-insights/forecast/mixed-data-muddles-macroeconomic-forecast
CBRE: “Multifamily vacancy poised to rise in all major markets” - https://www.cbre.com/insights/briefs/cotw-multifamily-vacancy-poised-to-rise-in-all-major-markets
GlobeSt: "Expenses Rising Faster Than Revenues for Many Apartment Owners" - https://www.globest.com/2023/06/16/expenses-rising-faster-than-revenues-for-many-apartment-owners/
RealPage: “Apartment Residents Shopping at a Seasonally Normal Rate” - https://www.realpage.com/analytics/apartment-renters-shopping-normally/
Freddie Mac: “Housing Sentiment in the Second Quarter of 2023” - https://www.freddiemac.com/research/consumer-research/20230621-housing-sentiment-2Q23
NAR: “Realtors Confidence Index, May 2023” - https://www.nar.realtor/research-and-statistics/research-reports/realtors-confidence-index
CoreLogic: “US CoreLogic S&P Case-Shiller Index Posts a Small Annual Decline, Down by 0.2% in April” - https://www.corelogic.com/intelligence/us-corelogic-sp-case-shiller-index-posts-a-small-annual-decline-down-by-0-2-in-april/
Harvard University: "The Power of Proximity: Office Interactions Affect Online Feedback and Quits, Especially for Women and Young Workers" - https://scholar.harvard.edu/pallais/publications/power-proximity-office-interactions-affect-online-feedback-and-quits-especially
Nature: "The effects of remote work on collaboration among information workers" - https://www.nature.com/articles/s41562-021-01196-4
For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/
Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter
DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest.
View all episodes
By Spencer Gray
4.6
99 ratings
The multifamily market continues to steadily improve, with solid underlying fundamentals but softer demand in areas that have seen a major influx of supply, a situation that lines up with the mixture of positive and negative indicators for the broader housing market and for the economy as a whole. Both home prices and rents have recently shown negative year-over-year numbers, but they are increasing on a monthly basis and are showing greater strength as the summer months continue.
Sources covered in this episode:
Harvard Joint Center for Housing Studies: The State of the Nation’s Housing 2023 - https://www.jchs.harvard.edu/state-nations-housing-2023
Fannie Mae: “Mixed Data Muddles Macroeconomic Forecast” - https://www.fanniemae.com/research-and-insights/forecast/mixed-data-muddles-macroeconomic-forecast
CBRE: “Multifamily vacancy poised to rise in all major markets” - https://www.cbre.com/insights/briefs/cotw-multifamily-vacancy-poised-to-rise-in-all-major-markets
GlobeSt: "Expenses Rising Faster Than Revenues for Many Apartment Owners" - https://www.globest.com/2023/06/16/expenses-rising-faster-than-revenues-for-many-apartment-owners/
RealPage: “Apartment Residents Shopping at a Seasonally Normal Rate” - https://www.realpage.com/analytics/apartment-renters-shopping-normally/
Freddie Mac: “Housing Sentiment in the Second Quarter of 2023” - https://www.freddiemac.com/research/consumer-research/20230621-housing-sentiment-2Q23
NAR: “Realtors Confidence Index, May 2023” - https://www.nar.realtor/research-and-statistics/research-reports/realtors-confidence-index
CoreLogic: “US CoreLogic S&P Case-Shiller Index Posts a Small Annual Decline, Down by 0.2% in April” - https://www.corelogic.com/intelligence/us-corelogic-sp-case-shiller-index-posts-a-small-annual-decline-down-by-0-2-in-april/
Harvard University: "The Power of Proximity: Office Interactions Affect Online Feedback and Quits, Especially for Women and Young Workers" - https://scholar.harvard.edu/pallais/publications/power-proximity-office-interactions-affect-online-feedback-and-quits-especially
Nature: "The effects of remote work on collaboration among information workers" - https://www.nature.com/articles/s41562-021-01196-4
For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/
Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter
DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest.
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