RealPage Economy Express Episode 18

by   Arben Skivjani
  Posted   January 11, 2024
  in   Economy Express ,   Insights

Episode 18: Will the Fed initiate rate cuts in 2024?

  • In calendar 2023, roughly 440,000 new apartments were completed nationwide, the highest delivery rate ever recorded.
  • Even more is scheduled to deliver in 2024, with nearly 1 million units under way.
  • Despite challenges in demand, absorption rates in 2023 were impressive, reflecting the resilience and appeal of multifamily living.
  • Projections for 2024 suggest even stronger demand performances could be ahead.
  • The employment landscape appears promising, as 216,000 jobs were added in December, helping the U.S. maintain an unemployment rate of 3.7%.
  • Recent trends show a decrease in job openings, suggesting a gradual slowdown in employment growth for 2024.
  • Consumer sentiment experienced a significant turnaround in December, with the Index rising by 14%. This boost can be attributed to the labor market and improved perception of inflation trends.
  • The Federal Reserve is closely monitoring inflation figures for potential adjustments to the Funds Rate.
  • The question remains: Will the Fed initiate rate cuts in 2024?

For more information on the state of the U.S. Economy, including forecasts, watch all the episodes of the Economy Express series.

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