Gray Report Video: Multifamily Reality Check

Reports on the apartment market continue to show declining rent performance at the national level, but there is considerable variation among different markets, with midwestern markets receiving more attention for their strong, positive performance compared to many of the previously high performing markets in the South and West. In the broader economy, middling jobs numbers could mean that the Federal Reserve is less inclined toward another sharp increase in the Federal Funds Rate, but we have not yet felt the full effects of this year’s rate hikes, which will continue to shape the multifamily market throughout 2023.