{"id":36752,"date":"2023-09-25T10:14:25","date_gmt":"2023-09-25T17:14:25","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=36752"},"modified":"2026-02-22T15:26:45","modified_gmt":"2026-02-22T23:26:45","slug":"matrix-assesses-multifamily-market","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/matrix-assesses-multifamily-market\/","title":{"rendered":"Matrix Assesses Multifamily Market"},"content":{"rendered":"\n<p>Yardi Matrix vice president Jeff Adler delivered an in-depth update on the state of the U.S. economy and the multifamily investment landscape last week, covering everything from inflation to recession risk to post-pandemic in-office trends.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg?w=1280\" alt=\"\" class=\"wp-image-36755\" style=\"width:375px\" width=\"375\" srcset=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg 1280w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg?resize=768,528 768w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg?w=400 400w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg?w=500 500w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg?w=600 600w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg?w=720 720w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg?w=800 800w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg?w=1000 1000w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg?w=1200 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/figure><\/div>\n\n\n<p>You can review the <a href=\"https:\/\/www.yardimatrix.com\/News-Events\/Webinars\/Webinar=multifamily-national-outlook-fall-2023--49\">recording of the webinar and presentation materials here<\/a>. Industry insiders know that these webinars are among the very best way to stay up to date on trends, performance and data. The next Matrix webinar will cover the outlook for the student housing sector on Oct. 25. <a href=\"https:\/\/yardi.zoom.us\/webinar\/register\/5016956602433\/WN_Fdt-dt4uS0qk2Nu2TyW2hQ\">You can sign up here.<\/a><\/p>\n\n\n\n<p>Among the key Yardi Matrix house view takeaways on the economy:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>U.S. economic growth is still strong, at 2.4 percent GDP growth in Q2 and strong early numbers for Q3<\/li>\n\n\n\n<li>Inflationary pressures have started to cool, but remain elevated due to underlying price pressures<\/li>\n\n\n\n<li>Labor market is tight, but showing signs of softening<\/li>\n<\/ul>\n\n\n\n<p>\u201cInflationary pressures have been cooling, they remain a bit elevated, they are coming down. Maybe not as quickly as the Fed would hope,\u201d Adler said.<\/p>\n\n\n\n<p>He still anticipates that a mild recession is on the way, likely landing in Q4 or the first half of 2024. \u201cIt&#8217;s a little hard for me to pinpoint exactly, but the process is pretty much played out, if not the exact timing of it.\u201d<\/p>\n\n\n\n<p>Top line takeaways for those interested specifically in the multifamily sector:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The market continues to outperform expectations, despite decelerating rent growth<\/li>\n\n\n\n<li>Regional market rotation is underway. Examples include slowing performance of Lifestyle units in the Sunbelt, due to increased supply, and outperformance in Midwest, Northeast and some Mountain metros<\/li>\n\n\n\n<li>This market rotation is due to affordability, which has become a primary focus for renters and pundits alike<\/li>\n\n\n\n<li>Supply shortage of U.S. housing is likely to be in place for the next decade<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;\u201cRent growth has slowed down. We\u2019re now looking at a tenth of a point in August over July,\u201d Adler stated. Sequential rent growth is also very weak.<\/p>\n\n\n\n<p>While beneficial for multifamily operators, one of the sector\u2019s greatest challenges is housing supply and affordability, which go hand in hand.<\/p>\n\n\n\n<p>\u201cThe housing deficit that built up from the Great Recession is still there. Regulatory costs account for 40 percent of multifamily development costs,\u201d Adler noted. Some states, like California, Texas and Florida, but still have a long way to go.<\/p>\n\n\n\n<p>\u201cIf you really want to solve the problem, you got to have supply of all kinds. Where we have seen rents come down or decelerate, it&#8217;s been in markets with lots of supply,\u201d he stated.<\/p>\n\n\n\n<p>One of the most interesting points shared in the webinar was how in-office work trends have played out over the last year. Data was delivered by <a href=\"https:\/\/www.scoopforwork.com\/\">Scoop<\/a>. These metrics are relevant to the housing market because they determine how much flexibility workers have with where they live.<\/p>\n\n\n\n<p>Key takeaways included:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The majority of U.S. companies, 61 percent, are allowing workers some in-office\/remote flexibility<\/li>\n\n\n\n<li>The average in-office requirement time per week is currently 2.6 days<\/li>\n\n\n\n<li>Massachusetts, Oregon and Washington are the states with the most flexibility for remote work. The least flexible are Alabama, Kentucky and Arkansas<\/li>\n\n\n\n<li>Bottom line, rise in remote work has allowed workers to leave cities for more suburban areas, leading to declining population in some metros<\/li>\n<\/ul>\n\n\n\n<p>Want to gain all the great insight from Wednesday\u2019s webinar? Find the <a href=\"https:\/\/www.yardimatrix.com\/News-Events\/Webinars\/Webinar=multifamily-national-outlook-fall-2023--49\">recording of the webinar and presentation materials here<\/a> and get informed!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yardi Matrix vice president Jeff Adler delivered an in-depth update on the state of the U.S. economy and the multifamily investment landscape last week, covering everything from inflation to recession risk to post-pandemic in-office trends. You can review the recording of the webinar and presentation materials here. Industry insiders know that these webinars are among [&hellip;]<\/p>\n","protected":false},"author":413,"featured_media":36755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2791],"tags":[1169],"class_list":["post-36752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matrix","tag-yardi-matrix"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yardi Blog<\/title>\n<meta name=\"description\" content=\"Yardi Matrix vice president Jeff Adler delivered an in-depth update on the state of the U.S. economy and the multifamily investment landscape last week,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardi.com\/blog\/matrix-assesses-multifamily-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Matrix Assesses Multifamily Market\" \/>\n<meta property=\"og:description\" content=\"Yardi Matrix vice president Jeff Adler delivered an in-depth update on the state of the U.S. economy and the multifamily investment landscape last week,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/matrix-assesses-multifamily-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-25T17:14:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-22T23:26:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/09\/Matrix_Webinar_MF_Fall2023_Hero.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"880\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Leah Etling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Leah Etling\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/matrix-assesses-multifamily-market\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/matrix-assesses-multifamily-market\/\",\"name\":\"Matrix Assesses Multifamily Market - 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