While recent topline inflation numbers may help justify the recent interest rate increase from the Federal Reserve, a more compelling signal of economic activity can be seen in the robust housing demand that has led to rebounding single family home prices in spite of the high mortgage rate environment, which is a strong indication of robust multifamily demand moving forward.

CBRE: “2023 U.S. Real Estate Market Outlook Midyear Review” - https://www.cbre.com/insights/reports/2023-us-real-estate-market-outlook-midyear-review

Yardi Matrix: “National Multifamily Report, August 2023” - https://www.yardimatrix.com/publications/download/file/4361-MatrixMultifamilyNationalReport-August2023

Apartment List: “Rents Continue to Dip, While Home Prices Rebound to All-Time Highs” - https://www.apartmentlist.com/research/rents-continue-to-dip-while-home-prices-rebound

CoreLogic: “US Home Price Insights – September 2023” - https://www.corelogic.com/intelligence/us-home-price-insights-september-2023/

The Harvard Joint Center for Housing Studies: “With Existing Inventories Historically Low, Homebuyers Turn to the New Home Market” - https://www.jchs.harvard.edu/blog/existing-inventories-historically-low-homebuyers-turn-new-home-market

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