COMMERCIAL REAL ESTATE'S ECONOMIC ADVISORS

CPI has its sharpest single-month decline since the height of the COVID-19 pandemic, significantly reducing the likelihood of a July rate hike.

This week’s Rental Housing Weekly Briefing examines RealPage data showing that apartment demand and occupancy improved in the second quarter as new supply continued to pull back, alongside Trepp analysis showing that Sun Belt multifamily credit stress remains elevated but more nuanced than headline regional comparisons suggest, and Chandan Economics research on why work-from-home renters have become less rent-burdened since 2020.

This week’s Rental Housing Weekly Briefing examines NMHC’s June 2026 Quarterly Survey of Apartment Construction & Development Activity, which shows a multifamily development market that remains broadly stable but constrained, alongside the June jobs report, which points to renewed labor market softness and a still-restrictive interest rate outlook for rental housing.

June’s jobs report softens the likelihood of a near-term rate hike as the labor market’s sluggishness comes back into view.