Apartment prices have fallen for three straight months and national rent growth is officially negative. What does that mean for multifamily investors?In this episode, Spencer Gray and Jay Reeder, Chief Investment Officer at Gray Capital, break down the latest RealPage and Realtor.com data, exploring trends in rent growth, occupancy, and the impact of dynamic pricing on today’s uncertain market. They discuss investor psychology, underwriting strategies, and whether it still makes sense to buy in 2025 or wait for 2026.Topics include:• Falling apartment prices and softening demand• The psychology of investing amid uncertainty• Dynamic pricing and lease management challenges• Midwest stability vs. coastal volatility• What it really means to find “value” in today’s market Stay informed on multifamily trends, operations, and strategy every week on The Gray Report.

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