Investor index 8.15.25

Consumer prices rise 2.7% annually in July, less than expected amid tariff worries

U.S. inflation in July 2025 remained steady, with the Consumer Price Index (CPI) rising by 0.2% from the previous month and showing a 2.7% increase year-over-year—matching June’s pace. Core CPI (which excludes food and energy) ticked up 0.3% month-to-month, pushing the annual rate to about 3.1%, its highest in several months. Softer energy prices and stable food costs largely kept headline inflation in check, but rising costs in services—like medical care and shelter—hinted at broader price pressures. Markets reacted positively, viewing the data as favorable for a potential Federal Reserve interest rate cut in September.

Full Article: https://www.cnbc.com/2025/08/12/cpi-inflation-report-july-2025.html

U.S. Apartment Construction Activity at a Decade Low

U.S. apartment construction has fallen to its lowest level in a decade, with about 542,800 units under construction at the end of Q2 2025—down 37% year-over-year and less than half the record 1.1 million units underway in early 2023. Major markets such as Austin, Phoenix, Atlanta, Dallas, and New York saw the steepest declines in unit counts, while cities like San Jose, Oakland, Portland, and Indianapolis experienced drops exceeding 60% on a percentage basis. Despite the slowdown, large metros including New York, Dallas, Phoenix, Newark, and Los Angeles still lead in total construction volume, though most posted sharp year-over-year decreases. A few outliers, including Cincinnati, Richmond, and West Palm Beach, recorded modest gains in activity.

Full Article: https://www.realpage.com/analytics/apartment-construction-decade-low/

Rent growth outlook cautiously optimistic for the full year

The U.S. multifamily rental market shows signs of cautious optimism heading into the latter part of 2025. From June to July, the national average rent inched up $2 to $1,754, with year-over-year growth remaining steady at 0.7%—a figure that’s hovered between 0.5% and 1.1% for roughly 20 consecutive months. While rent movement is mixed across metros—with the Midwest and Northeast generally trending upward and places like San Francisco and Austin slowly rebounding—markets like Chicago, Columbus, and Detroit posted the strongest annual increases in July. Occupancy remains solid at 94.7%, and robust demand—reflected in more than 300,000 units absorbed so far this year—is helping to counterbalance a high volume of units under construction. Projected declines in new-start deliveries are expected to ease downward supply pressure and support healthier rent growth in the coming months.

Full Article: https://www.multifamilydive.com/news/rent-growth-outlook-cautiously-optimistic-for-the-full-year/757341/