Weekly Market Observations - February 22, 2024

Here’s Our Weekly Market Observations :

Inflation rises more than expected in January with CPI increasing 0.3% from December and 3.1% YOY

Retail sales declined more than expected in January, a 0.8% drop from December

YardiMatrix predicts weak multifamily rent growth in 2024 due to new supply pressure

New supply drags Southeast apartment occupancy to a 10 year low

Average 30-year fixed mortgage rates up slightly to 6.77%