The Radix Review: Multifamily Trends Explained

Covering the latest trends in multifamily housing, demographics, and economic insights, built off real time analytics at the property, submarket and market level.

The Radix Review: Multifamily Trends Explained is a business podcast hosted by Radix, with 234 episodes on record and a Required Pod Score of 80. PitchCentric scores this show on Booking Probability, Listen Score, and live audience signals refreshed every 24 hours.

Radix hosts The Radix Review: Multifamily Trends Explained, a business show with 234 episodes published.

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  The Radix Review: Multifamily Trends Explained

  Leasing Firms to a Stretch High as Fundamentals Hold

  Aug 13, 20262 min

  The national multifamily picture held its footing in the week of August 9, with leasing continuing to build even as the other metrics leveled off. As of August 9, the average U.S. occupancy rate was 94.83%, essentially flat on the week and up 9 basis points from a year ago, holding above last year for a fourth straight week, though the margin has narrowed to a slim edge. The leased percentage was 96.94%, up 5 basis points on the week and down 68 basis points from last year. Occupancy is steady and still running just ahead of last year. Leasing velocity kept building. The average number of leases signed was 2.4 per property last week, up 0.1 from the prior week and the firmest weekly pace in this stretch, though still down 0.7 per week compared to a year ago. This was a second straight week of stronger new leasing, a genuine demand signal as we close out the peak summer season. Net effective rent held roughly steady at $1,772, with annual NER growth for new leases at negative 1.6%, a slight step back from negative 1.4% the prior week. After last week's improvement, the annual rent comparison wobbled a touch, a reminder that the pricing recovery is uneven rather than a straight line. The range across the country stayed wide, with several coastal markets posting solid positive annual growth while much of the Sun Belt is still working through negative territory. RevPAU, which combines the change in rents and occupancy, was $1,680, essentially flat on the week, with the annual comparison at negative 1.5%, a touch softer than negative 1.3% the prior week. Revenue is holding at a steady level even as the annual comparison eased slightly. For operators, the read this week is that leasing and occupancy are carrying the momentum while pricing consolidates, a reasonable posture heading into the back half of August. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

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  The Radix Review: Multifamily Trends Explained

  Rents Resume Firming as Leasing Hits Its Best Pace

  Aug 6, 20263 min

  The national multifamily picture strengthened broadly in the week of August 2, with rents and leasing both picking up as occupancy held above last year. As of August 2, the average U.S. occupancy rate was 94.86%, up 4 basis points on the week and up 16 basis points from a year ago. That's a third straight week above last year. Leased percentage was 96.89%, up 11 basis points on the week and down 70 basis points from a year ago. The leased percentage is holding its weekly gain, even as the year-over-year gap remains. Leasing activity gained momentum, with an average of 2.3 leases signed per property this week, up 0.2 from the prior week and the strongest pace we've seen in this stretch. That said, it's still 0.7 leases per week below where things stood a year ago. The recent uptick in new leasing, following weeks of flat volume, is an encouraging signal, it suggests demand is contributing to the recent firming, rather than the improvement being driven by retention alone. Net effective rent picked back up. NER rose 0.4% on the week to $1,766, and annual NER growth for new leases improved to negative 1.4%, up from negative 1.9% the prior week. After a flat stretch, rents are once again narrowing the annual gap, that's the piece that had been lagging. The national picture remains uneven, with several coastal markets posting solid positive annual growth while much of the Sun Belt is still working through negative territory. RevPAU came in at $1,675, up 0.5% on the week, with the annual comparison improving to negative 1.3% from negative 1.6% the prior week. Revenue is advancing this week, with occupancy, rents, and leasing volume all pointing the same direction. For operators, this was a broadly positive week-over-week read, with all five metrics moving the right way as we open August, even as a couple of them still work through year-over-year gaps. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

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  The Radix Review: Multifamily Trends Explained

  Occupancy Holds Above Last Year as Leasing Firms

  Jul 30, 20262 min

  The national multifamily picture held its ground in the week of July 26, with occupancy staying above last year for a second straight week. As of July 26, the average U.S. occupancy rate was 94.82 percent, essentially flat on the week and up 29 basis points from a year ago. The leased percentage was 96.77 percent, up 3 basis points on the week and down 62 basis points from last year. Last week's step up in occupancy held, an encouraging sign that the gain was more than a temporary blip. Leasing velocity firmed a bit. The average number of leases signed was 2.1 per property, up 0.1 from the prior week and down 0.7 per week compared to a year ago. That annual gap narrowed from 0.9 the prior week, so demand picked up modestly even as occupancy stayed firm, a healthier mix than the week before, when occupancy climbed on retention alone. Net effective rent firmed slightly. NER rose 0.2 percent on the week to $1,762, though annual NER growth for new leases held at negative 1.9 percent. Rents are stable week to week but have not yet resumed narrowing the annual gap, which leaves pricing as the soft spot. The range across the country stayed wide, with several coastal markets posting solid positive annual growth while much of the Sun Belt is still working through negative territory. RevPAU, which combines the change in rents and occupancy, was $1,671, up 0.2 percent on the week, with the annual comparison at negative 1.6 percent, roughly steady with the prior week. Revenue per available unit is holding up on the strength of occupancy and firmer rents together. For operators, the read this week is steady: the occupancy step up held, leasing improved, and pricing remains the one area still waiting to turn. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

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  The Radix Review: Multifamily Trends Explained

  Occupancy Jumps Above Last Year as Rents Soften

  Jul 23, 20263 min

  The national multifamily picture took a clear step up in the week of July 19, led by a notable jump in occupancy. As of July 19, the average U.S. occupancy rate was 94.85 percent, up 49 basis points from the prior week and now 39 basis points above a year ago. That is the first time occupancy has run ahead of last year in months. The leased percentage was 96.74 percent, up 29 basis points on the week and 61 basis points below last year. The improvement was across the board, with gains in essentially every tracked market in the week. For leasing velocity, results were soft this week. The average number of leases signed was 2.0 per property, flat from the prior week and 0.9 below a year ago, a gap that widened from 0.6 the prior week. With occupancy climbing even as new lease volume held flat and trailed last year, the gain looks more like stronger retention than a wave of new leasing. Net effective rent gave back a little. NER eased 0.1 percent on the week to $1,758, and annual NER growth for new leases slipped to negative 1.9 percent, after narrowing to negative 1.5 percent the prior week. Pricing softened even as occupancy firmed, a reminder that the two do not always move together. The range across the country stayed wide, with several coastal markets posting positive annual growth while much of the Sun Belt continues to work through negative territory. RevPAU was $1,667, up 0.4 percent on the week, with the annual comparison improving to negative 1.5 percent from negative 1.7 percent the prior week. The occupancy gain offset softer rents, and revenue per available unit came out ahead. For operators, the read this week is that occupancy strength is doing the heavy lifting on revenue right now, while pricing power stays limited. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

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  The Radix Review: Multifamily Trends Explained

  Occupancy Firms as Annual Gaps Continue to Narrow

  Jul 16, 20262 min

  The national multifamily picture kept improving in the week of July 12, with occupancy firming to its best annual comparison in recent weeks. As of July 12, the average U.S. occupancy rate was 94.37%, up 9 basis points from the prior week and down just 17 basis points from a year ago, the narrowest annual occupancy gap in the recent stretch. The leased percentage was 96.45%, up 8 basis points on the week and down 78 basis points from last year. Leasing velocity held steady. The average number of leases signed was 2.1 per property last week, flat from the prior week, and down 0.6 per week compared to a year ago. The annual gap was essentially unchanged from the prior week, so demand is holding its ground against last year rather than gaining, even as occupancy continues to firm. Net effective rent edged higher. NER rose 0.1% on the week to $1,760, and annual NER growth for new leases improved to negative 1.5%, up from negative 1.6% the prior week. Rents are grinding back toward last year's level, with the annual gap narrowing for a second straight week. The range across the country remains wide, with several coastal markets posting solid positive annual growth while much of the Sun Belt is still working through negative territory. RevPAU was $1,661, up 0.2% on the week, with the annual comparison improving to negative 1.7% from negative 1.9% the prior week. With occupancy firming and rents edging up together, revenue per available unit is making steady progress against last year. For operators, the read this week is constructive: the improvement that resumed after the July 4 holiday is holding, and the year over year comparisons keep tightening as we move through July. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

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