Q3 HOUSING MARKET UPDATE

A couple of weeks ago, I had the honor of presenting Kaliser & Associates PC's State of the Union (Q3): Housing Edition 📊🏠 – a deep dive into where the rental market is headed, and let me tell you, there’s A LOT going on! Here's the scoop 👇:

1️⃣ Market Trends:
💸 Inflation is cooling off! Interest rates are starting to dip, and we’re expecting them to drop 75-125 bps by the end of 2024. Finally, some breathing room for investors and renters alike! 🌬️
🏘️ Rents are flat, vacancy rates are creeping up, BUT renting still costs WAY LESS than owning in many MSAs! 💥

2️⃣ Housing Shortage:
There’s STILL a massive housing shortage 😱. The competition for rentals is fierce, and with ownership costs sky-high, the rental market is under pressure. No relief yet on that front 🏚️➡️🏢.

3️⃣ Regional Rent Growth:
States like Florida, Texas, Georgia, and Arizona continue to see modest rent growth 📈. These Sun Belt states are thriving with stable occupancy and strong demand! 🌞💼

4️⃣ Affordability Challenges:
Rent-to-income ratios show renting is STILL more affordable than owning, especially in today’s mortgage environment. 🏦 Meanwhile, we've identified the top 10 metros feeling the biggest squeeze on rent burden—it's getting TOUGH out there. 💪📉

5️⃣ Looking Ahead:
🔮 2025 is the game-changer! We predict a 75-100 bps rate cut by year-end that could finally reopen capital markets by Q1 2025. This could give rental housing investments the boost they need! 🚀

🌟 Despite some flatlining rents, the Sun Belt remains strong, affordability is key, and the future holds a lot of promise for rental housing!