Gray Report Newsletter: March 7, 2024

A Long Road for Rent Growth After an extended slowdown that lasted nearly 6 months, rent growth has begun to turn around. After record-breaking rent growth of 2021 and early 2022, a correction that began in late 2022 and continued through 2023 kept rent growth well below historical averages, but recent reports have shown some…

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2024 U.S. Investor Intentions Survey: Investment Activity Expected to Increase

Source – CBRE: “2024 U.S. Investor Intentions Survey: Investment Activity Expected to Increase” We’ll be looking at demand from apartment renters in a moment, and I’ll say right now that compared to the demand from multifamily investors, we have a fairly crystal-clear view of the demand of apartment renters. Maybe it’s just me! But I…

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Single Family Rentals and the Multifamily Market

Single Family Rentals

Single family rentals are a growing portion of the housing market, and while the single family market is correlated and connected to multifamily performance, single family rentals are not necessarily a competitive threat to the multifamily market.

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Gray Report Newsletter: February 29, 2024

Multifamily Forecasts Converge toward Optimism As we move further from the uncertainty and rent growth stagnation of 2023, an increasing number of sources are finding room for optimism in the multifamily investment market. A looming drop-off in multifamily supply, the consequence of a interest-rate-driven decline in new construction projects, has become a central part of…

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Multifamily Predictions Converge on Optimism

As we move further from the uncertainty and rent growth stagnation of 2023, an increasing number of sources are finding room for optimism in the multifamily investment market. A looming drop-off in multifamily supply, the consequence of an interest-rate-driven decline in new construction projects, has become a central part of projections for the multifamily market,…

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Gray Report Newsletter: February 22, 2024

Apartment Fundamentals Are Improving The apartment market is improving markedly from a renter’s perspective, and there are promising signs of long-term apartment market strength from an investor’s perspective as well. For renters, lower rent-to-income levels indicate that apartments are becoming increasingly affordable as wages outpace rents, and the increased apartment supply should continue this trend.…

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Could the Apartment Market Crash in 2024? Really?

Market Crash 2024

This month’s inflation report came in slightly higher than expected, causing some worry that the much-anticipated interest rate cuts from the Fed may not arrive as quickly as previously thought. A “higher for longer” environment is one reason why some are pessimistic about multifamily in 2024, but there is little evidence for continued declines in…

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Gray Report Newsletter: February 15, 2024

Could Multifamily Crash? Really? This month’s inflation report came in slightly higher than expected, causing some worry that the much-anticipated interest rate cuts from the Fed may not arrive as quickly as previously thought. A “higher for longer” environment is one reason why some are pessimistic about multifamily in 2024, but there is little evidence…

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