The national multifamily vacancy rate slipped to 7% in October, steadily declining from its earlier peak as stalled purchase conditions encouraged households to keep renting. Although rental concessions still highlight pockets of lingering weakness, rent increases are already returning to previously oversupplied Sun Belt markets like Austin, Phoenix, and Tampa. Meanwhile, sellers have lost leverage, triggering a pullback in fresh property listings alongside the retreat in purchase values.
Key points
Prospective buyers are trapped by high financing costs, causing housing market activity t…: Prospective buyers are trapped by high financing costs, causing housing market activity to grind to historic lows.
Multifamily properties are absorbing demand from stalled buyers despite the national vaca…: Multifamily properties are absorbing demand from stalled buyers despite the national vacancy rate lingering at 7%.
Regional rental markets are diverging, with steep declines in Las Vegas contrasting sharp…: Regional rental markets are diverging, with steep declines in Las Vegas contrasting sharply against rapid growth across Northern California.
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High mortgage rates and concern over the broader economy have taken their toll on the housing market, freezing sales for the last few months. Now those issues are having an impact on home prices and rents.
The median U.S. home sale price fell for the first time in more than three years, according to a new report from Redfin, a real estate brokerage. The drop was just 0.1% year over year for the four weeks ending Oct. 25, but it follows three straight years of increases.
While mortgage rates have pulled back some in the last few weeks, they are roughly a full percentage point higher than they were one year ago. Higher rates are putting the typical homebuyer's monthly payment now at the second-highest on record, according to Redfin.
Pending home sales, which are a measure of signed contracts on existing homes, continued to fall in the past few weeks. A separate report from the National Association of Realtors showed these sales in September hitting the lowest level in 25 years.
The combined debt and equity financing brings nine figures of fresh capital to the platform designed to simplify back-office operations for single-operator companies. Led by executive Hooman Radfar, the business targets solo entrepreneurs who need streamlined financial tooling without enterprise-level overhead. The cash injection strengthens its ability to automate administrative workflows for independent professionals.
DoorDash has agreed to acquire grocery delivery company Instacart in a $17 billion deal, marking the company's largest acquisition to date. Under the terms, DoorDash will pay $65 per share—representing a 26% premium over Instacart's closing price on October 22—with the transaction financed by at least 75% cash. The merger is expected to close by the end of 2027 or during the first half of 2028.
Recent shortfalls in the company's third-quarter results have created a sensitive operating environment for the motorcycle manufacturer. While immediate projections lean toward optimism, the underlying foundation remains precarious due to these recent quarterly misses. Moving forward, the company must carefully manage its market position to sustain positive momentum.