September through December is normally a quiet period for the multifamily industry, but 2024 has proven to be anything but that. Ignoring the presidential election, which will surely dominate headlines over the next month, September experienced a continued shift in sentiment and expectations by not only investors, but now the Federal Reserve themselves. Supporting the Fed’s policy shift, we saw a number of data releases in September that support our belief that, while the economy is slowing down, the multifamily industry is forward looking in this cycle and already coming out of its recession.

We are a data-driven firm at our core and in this monthly newsletter, we discuss the most important datapoints released in September that are shifting the industry’s outlook and reinforcing our thesis that the worst is behind us.