U.S. job growth was better than expected for May, but there were 279,000 fewer jobs created during the first five months of 2025 compared to 2024. That has likely been one of the reasons occupancy rates have not rebounded in many markets the way we expected them to this year...

Explore our webpage for more insights and resources:
https://bit.ly/Radix_Website

Heading into the summer, most multifamily markets showed significant improvements compared to a year ago. At that point, rent growth was still deteriorating and supply had yet to peak in many markets. While effective rent growth is far from robust in most places, it's positive in most places.

While effective rents were still below last year's level in several markets at the end of May, the year-over-year declines were typically much milder.

At a national level, effective rents were up 0.9% from a year ago and the occupancy rate was 93.7%. Markets such as Chicago, Seattle, and Washington, DC outperformed the U.S. benchmark for both metrics...

Explore our webpage for more insights and resources:
https://bit.ly/Radix_Website

Last year, weekly traffic for multifamily properties peaked during the first week of May at a national level, and it appears the pattern could be repeating again in 2025. Traffic counts have been down slightly in the last two weeks, and they are back to levels from early March.

In 2024, the U.S. occupancy rate peaked approximately eight weeks after traffic began to decline, which is not surprising since traffic is a leading indicator...

Explore our webpage for more insights and resources:
https://bit.ly/Radix_Website