Radix

Job growth rebounded in November, which is a positive sign for multifamily demand heading into the end of the year and 2025. Leasing activity remained steady in the latest week, and more than half of markets posted positive annual effective rent growth. Get the weekly Rent and Occupancy Trend Report for the full picture! 🖥️ Blog post: https://lnkd.in/eFntzHTK 🎙️ Listen on Spotify: https://lnkd.in/eHxQdjSi 🎧 Listen on Apple: https://lnkd.in/eYmmbwuT #Multifamily #RealEstateData #MultifamilyMarket #Radix

Job gains bounced back in November with 227k jobs added. It wasn’t a big surprise given October’s dismal results were impacted by some special circumstances – shorter survey collection period, hurricane impacts, and worker strikes. Expectations were approximately 200k jobs for the month. The other positive note was that job gains for previous months were revised up, a reversal from consistent downward revisions. The estimates for September and October were increased by a combined 56k. Let’s see if those hold. The unemployment rate was 4.2% and annual wage growth was 4.0%. Overall, wage growth has remained persistently stronger than expectations heading into this year, which were in the 3.0%-3.5% range. While that trend is challenging for some businesses, as well as keeping broader inflation under control, the additional growth has likely helped #multifamily operational performance stabilize in many markets. Top industries for monthly job gains were: Healthcare: 54k Leisure and hospitality: 53k Government: 33k Employment in transportation equipment manufacturing increased by 32k jobs. That growth is likely a one-time event since it represented workers returning from strike. Professional, scientific, and technical services added 15.9k jobs, the highest total since May. That’s another nice note in the report given how sluggish private sector job gains have been this year, especially for high-paying jobs. More as it relates to multifamily… National job gains averaged 143k per month during the last six months. If that type of pace continues in 2025, U.S. multifamily rent growth will likely trend closer to 3% by the end of next year. Based on Radix data, the latest annual growth rate for effective rents was -0.3% at the U.S. level, but many markets have already rebounded to the 2%-5% range. https://lnkd.in/gJgtp3NK

The multifamily market—and dataIQ users—remained active in November. In a new blog post, we dive into the top states, markets, and assets analyzed by dataIQ subscribers over the last month. 🔗 Read the full blog post: https://lnkd.in/eKsK5CzP Stay tuned for our next report about December activity in early January!

Meet Radix at #BMACEast!     800+ multifamily investors, brokers, and lenders trust Radix solutions for analyzing every deal and managing every asset. Connect with Coleman Wright, Sales Director at Radix, to discover how you can join them, and how we can help you exceed your 2025 goals.    With the Radix suite, you can:   • Achieve a competitive edge with the best-in-class tools  • Streamline acquisition, management, and disposition processes  • Act confidently, with actionable multifamily data.   Book a session: https://lnkd.in/d_HDrfak #BMACEast #Radix #MultifamilyData #IndustryInsights   

#Multifamily leasing activity remained steady in the latest week's report, which is a great sign as we head towards the end of the year. For the month of November, annual effective rent growth improved in 31 of 45 markets compared to the average growth rate in Q3 2024. Even though many markets still have negative rent growth, fundamentals are coming back into balance for the majority of the country, and 2025 looks promising. 🖥️ Blog post: https://lnkd.in/dskS83uF 🎙️ Listen on Spotify: https://lnkd.in/dAUcmd-M  🎧 Listen on Apple: https://lnkd.in/d7jN4fVc #multifamilydata #RealEstateData #MultifamilyMarket #Radix #thetruthindata

🚀 Introducing the Insights Dashboard Transform your data into actionable stories with expert-level insights—no analyst needed! Anticipate changes and stay ahead with a full view of supply and demand dynamics for your properties and comps. Access the Insights Dashboard now in Radix Benchmark! 🔗 Not using Radix solutions? Head here to request a demo: https://lnkd.in/dQ6S_Sgz   #InsightsDashboard #MarketInsights #Multifamily #Radix #thetruthindata

#Multifamily operational metrics were very consistent with prior weeks. Traffic, leasing, occupancy, and rent growth all had very minor weekly declines due to typical seasonality. The annual change in same store occupancy for stabilized properties has not been positive at the national level since May 2022. That streak continued in the latest week's report, but the occupancy rate was only down 14 basis points from a year ago. That metric should turn positive in early 2025. 🖥️ Blog post: https://lnkd.in/d_jba5gD 🎙️ Listen on Spotify: https://lnkd.in/dFpndXBf 🎧 Listen on Apple: https://lnkd.in/dmfjRb6b #multifamilydata #RealEstateData #MultifamilyMarket #Radix #thetruthindata

U.S. annual effective #rentgrowth was flat in this week's report. It had been negative in each report since March 2023. The value and utilization of concessions spiked a year ago. While concessions are still prevalent, they have been lowered in many of the top-performing markets, helping the year-over-year U.S. rent comparisons. 🖥️ Blog post: https://lnkd.in/d23bwFX8 🎙️ Listen on Spotify: https://lnkd.in/d-N4BucY  🎧 Listen on Apple: https://lnkd.in/dMs2uF-m #multifamilydata #RealEstateData #MultifamilyMarket #Radix #thetruthindata

Introducing the Best Rate Report! 🚀 Easily compare rates, track lease terms, and customize insights on key metrics. Updated weekly with fresh data, this report is your go-to tool for actionable insights. Explore the Best Rate Comparison Report under the 'Reports' tab in your Radix Benchmark dashboard! #Multifamilydata #RealEstateData #MultifamilyMarket #Radix #Thetruthindata #Multifamily

Missed the latest Tech Talk Podcast from 20for20? Catch up with Dom Beveridge and antitrust attorney Ethan Glass as they dive into the regulatory shifts and challenges shaping the multifamily industry. Their expert insights, covering recent challenges and future perspectives, are essential for anyone in the multifamily industry. 🎙️ Don’t miss out—listen now: https://lnkd.in/dE74TcfV