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
Multifamily occupancy rates and effective rents ticked up in late January - RAOT Week of Jan 26th 2025
Last year’s home sales were at lowest level in almost 30 years
A recent report by The Wall Street Journal cited preliminary data from the National Association of Realtors. High prices and elevated mortgage rates were among key factors causing existing home sales to decline to 4.06 million in 2024, down slightly from 4.09 million in 2023.
For comparison, the years during the Great Recession even had a slightly higher volume of home sales compared to 2024. At least 5.0 million existing homes were sold per year from 2015 to 2022.
The national median home price was $404,000 in December 2024, up 6% from the prior year. A lack of inventory was a key factor for increased home prices despite higher mortgage rates.
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https://bit.ly/Radix_Website