The Real Signal #114 - Multifamily At Inflection Point
Plus articles on California Tops US Cost of Living In 2024 and Texas and Florida Have Peaked
Multifamily At Inflection Point
“CBRE is forecasting a big inflection point for multifamily in the next 12 months.
Every major Sun Belt / Mountain market -- EXCEPT Austin and Salt Lake City -- is projected to return to positive rent growth + declining vacancy by early 2026. The two laggards take another qtr.
I would quibble on a few things in the chart but I'm generally aligned, though I'm a surprised by the bullishness on Phoenix as an early recovery market, particularly with peak supply not hitting until Q3'25.”
“Despite a deluge of new supply in 2024, CBRE’s multifamily report shows net absorption accelerating. Vacancy is now down to 5.3%, and is expected to return to the long-run average of 5%.”
Scott Choppin Note: Check out
’s substack. Excellent.California Tops US Cost of Living In 2024
Texas and Florida Have Peaked
“Have Texas and Florida peaked?
Surprising New Data from Atlas Van Lines
TX and FL didn’t make the cut for the first time in years!!!”
“Rents decline nationally with Texas underperforming at -2.7%
Austin with a significant reduction in rents at - 6.7%.
Meanwhile, builders keep building in Texas.”
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