We are excited to share with you the Chart of the Week!
While declines in net effective rent and occupancy have garnered most headlines in multifamily, demand is quietly holding its own at the national level. Year-to-date, traffic nationwide is up roughly 19%. Some markets have seen even stronger growth thus far in 2023. Salt Lake City, Minneapolis and New York lead all markets as traffic is up more than 50% from the beginning of the year. While the fourth quarter is traditionally the slowest time of year for traffic, these markets are maintaining strength. On a year-over-year basis traffic remains slightly positive nationwide, and in a number of top performing traffic markets.
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