According to the latest Yardi Matrix Multifamily Report, average multifamily advertised rents rose $2 to $1,773 in August, with year-over-year growth increasing 0.4%. The national occupancy rate was unchanged at 94.2%, a 0.5% decline year-over year. In addition, Yardi says August also marked the first monthly increase in several years, although the gain was still below those achieved before the pandemic.
Economic uncertainty remains the primary risk to this improving outlook. U.S.–Canada trade tensions escalated in August, with new tariffs and retaliatory measures set to affect billions of dollars of cross-border goods. Meanwhile, the U.S. expanded sanctions against Iran’s oil, financial and military procurement networks. Further escalation could raise materials and energy costs, sustain inflationary pressure and keep interest rates elevated.
Click here to read the full report at Yardi.
