Apartment Investment and Management (AIV) seasonality heatmap
Returns across monthly, quarterly, and yearly periods. Cell color encodes signed magnitude; the scale auto-fits each table.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.1% | +0.0% | -7.7% | +4.4% | -1.2% | -31.7% | — | — | — | — | — | — |
| 2025 | +6.3% | +0.2% | -2.9% | -10.1% | +0.9% | +8.4% | -2.8% | -6.9% | +1.2% | -6.3% | +7.3% | +4.2% |
| 2024 | -5.1% | -0.5% | +10.8% | -2.2% | -1.5% | +5.1% | +7.0% | +4.9% | -2.8% | -6.6% | +4.7% | +2.9% |
| 2023 | +5.3% | +0.0% | +2.4% | +1.8% | +3.6% | +5.2% | -2.3% | -8.6% | -10.5% | -14.0% | +17.7% | +13.6% |
| 2022 | -9.0% | +1.7% | +2.5% | -13.9% | -0.3% | +1.9% | +29.9% | +6.2% | -17.2% | +8.7% | +5.5% | -15.0% |
| 2021 | -13.2% | +3.9% | +28.9% | +13.0% | +1.4% | -4.8% | +3.9% | +3.2% | -4.7% | +10.8% | -2.4% | +4.3% |
| 2020 | +2.0% | -8.7% | -26.4% | +7.1% | -0.5% | +2.2% | +3.2% | -6.3% | -6.1% | -5.4% | +27.0% | +31.2% |
| 2019 | +12.7% | -0.4% | +2.6% | -1.7% | +1.7% | +0.8% | -1.3% | +3.4% | +2.5% | +5.2% | -1.5% | -3.9% |
| 2018 | -4.1% | -6.9% | +5.1% | +0.0% | +1.6% | +3.2% | +1.0% | +3.6% | +1.0% | -2.5% | +10.1% | -6.4% |
| 2017 | -3.0% | +6.3% | -4.4% | -1.5% | -1.0% | +0.0% | +5.8% | +0.5% | -3.5% | +0.5% | +1.0% | -1.0% |
| 2016 | -1.8% | -6.0% | +14.1% | -3.9% | +7.0% | +3.3% | +4.2% | -1.0% | +1.5% | -4.0% | -3.7% | +8.2% |
| 2015 | +7.2% | -4.9% | +4.5% | -4.3% | +1.9% | -2.5% | +5.8% | -7.4% | +2.6% | +5.8% | -1.8% | +5.0% |
| 2014 | +8.1% | +7.8% | +0.9% | +2.7% | +2.6% | +10.2% | +6.2% | +0.7% | -7.2% | +12.4% | +4.8% | +0.0% |
| 2013 | +0.8% | +10.0% | +2.8% | +1.8% | -2.7% | +0.0% | -2.8% | -5.7% | +2.0% | +0.0% | -9.6% | +3.3% |
| 2012 | +7.2% | +2.0% | +6.3% | +2.8% | +0.4% | -0.3% | +1.4% | -2.5% | -2.0% | +2.9% | -5.4% | +7.8% |
| 2011 | -1.2% | +1.1% | -0.9% | +5.9% | -0.4% | -4.5% | +7.1% | -2.3% | -16.7% | +11.5% | -11.4% | +5.2% |
| 2010 | -3.3% | +8.3% | +10.4% | +22.0% | -7.6% | -6.2% | +10.9% | -4.4% | +4.8% | +9.1% | +3.7% | +7.2% |
| 2009 | -23.4% | -41.1% | +5.0% | +33.2% | +31.1% | -6.4% | +5.9% | +30.8% | +21.0% | -15.8% | +9.9% | +18.5% |
| 2008 | +13.6% | -12.7% | +3.9% | +3.4% | +8.5% | -13.9% | +8.3% | +3.7% | -1.1% | -53.5% | -21.5% | +20.1% |
| 2007 | +11.6% | -6.4% | -1.7% | -4.3% | +0.0% | -8.2% | -15.8% | +7.3% | +1.0% | +3.5% | -13.5% | -6.5% |
| 2006 | +12.3% | +4.2% | +5.9% | -4.8% | -1.9% | +0.5% | +10.7% | +7.8% | +6.3% | +5.7% | +0.9% | -0.9% |
| 2005 | -6.8% | +8.4% | -2.7% | +2.4% | -1.2% | +10.3% | +7.5% | -7.8% | -2.8% | -1.0% | +2.3% | -0.8% |
| 2004 | +2.0% | -6.2% | -4.2% | -9.4% | +4.9% | +7.8% | +2.6% | +13.1% | -2.1% | +5.6% | +0.6% | +6.0% |
| 2003 | -3.0% | +3.6% | -0.8% | +3.5% | -4.6% | -1.7% | +13.9% | +0.0% | +1.9% | +4.0% | -15.2% | +1.3% |
| 2002 | -2.8% | +3.6% | +7.0% | +1.6% | -3.6% | +5.6% | -8.5% | -1.1% | -10.8% | -9.7% | +8.8% | +0.2% |
| 2001 | -6.1% | -4.6% | +1.0% | +0.3% | +4.7% | +5.1% | -4.1% | +5.5% | -5.6% | -5.5% | +6.1% | +2.7% |
| 2000 | -4.9% | +17.9% | +3.2% | +4.1% | +19.4% | +8.0% | +11.9% | +7.3% | +854.7% | -0.8% | +2.2% | +8.5% |
| 1999 | -0.2% | +23.3% | -7.3% | +10.5% | +22.2% | +1.8% | -4.5% | +17.2% | -6.7% | -1.6% | +16.5% | +7.1% |
| 1998 | +1.0% | +14.0% | +5.7% | -2.9% | +20.8% | +1.3% | -3.8% | +5.1% | +10.2% | -7.5% | +15.6% | +18.0% |
| 1997 | -4.9% | +28.1% | +0.4% | -4.7% | +18.6% | +1.3% | +13.3% | +17.0% | +11.4% | -1.9% | +12.7% | +3.9% |
| 1996 | +7.7% | +22.2% | +1.2% | +0.6% | +17.9% | -6.3% | +6.0% | +28.1% | +2.4% | +10.7% | +27.8% | +14.1% |
| 1995 | +3.6% | +28.4% | +1.4% | +2.1% | +24.6% | +8.8% | +1.2% | +25.3% | +1.2% | -3.0% | +17.4% | +1.3% |
| 1994 | — | — | — | — | — | — | — | -0.7% | -5.4% | +5.0% | +8.5% | +2.2% |
| Avg | +0.2% | +3.0% | +2.1% | +1.9% | +5.2% | +1.2% | +3.9% | +4.3% | +25.6% | -1.2% | +3.9% | +5.1% |
| Median | -0.6% | +1.8% | +2.5% | +1.7% | +1.5% | +1.3% | +4.2% | +3.3% | -0.0% | -0.4% | +4.2% | +4.0% |
| Last 5Y Avg | -0.7% | +0.3% | +1.0% | -4.0% | +0.3% | +3.1% | +7.1% | -0.2% | -6.8% | -1.5% | +6.6% | +2.0% |
| Std Dev (σ) | 8.0% | 13.2% | 8.6% | 8.9% | 9.8% | 5.8% | 8.2% | 10.2% | 151.5% | 12.0% | 11.4% | 8.8% |
| Consistency (μ/σ) | 0.03 | 0.23 | 0.24 | 0.21 | 0.53 | 0.20 | 0.48 | 0.42 | 0.17 | -0.10 | 0.34 | 0.58 |
| Win Rate (%) | 47% | 59% | 69% | 59% | 59% | 61% | 71% | 63% | 50% | 47% | 69% | 75% |
| Winning / Losing Months | ▲15▼17 | ▲19▼13 | ▲22▼10 | ▲19▼13 | ▲19▼13 | ▲19▼12 | ▲22▼9 | ▲20▼12 | ▲16▼16 | ▲15▼17 | ▲22▼10 | ▲24▼8 |
| Longest Win / Loss Streak | ▲4▼5 | ▲6▼3 | ▲5▼3 | ▲7▼5 | ▲7▼3 | ▲6▼7 | ▲5▼2 | ▲7▼4 | ▲4▼5 | ▲3▼6 | ▲9▼3 | ▲11▼3 |
| Best | +13.6%in January 2008 | +28.4%in February 1995 | +28.9%in March 2021 | +33.2%in April 2009 | +31.1%in May 2009 | +10.3%in June 2005 | +29.9%in July 2022 | +30.8%in August 2009 | +854.7%in September 2000 | +12.4%in October 2014 | +27.8%in November 1996 | +31.2%in December 2020 |
| Worst | -23.4%in January 2009 | -41.1%in February 2009 | -26.4%in March 2020 | -13.9%in April 2022 | -7.6%in May 2010 | -13.9%in June 2008 | -15.8%in July 2007 | -8.6%in August 2023 | -17.2%in September 2022 | -53.5%in October 2008 | -21.5%in November 2008 | -15.0%in December 2022 |
−53.5%+854.7%
2026
Jan-1.1%
Feb+0.0%
Mar-7.7%
Apr+4.4%
May-1.2%
Jun-31.7%
Jul—
Aug—
Sep—
Oct—
Nov—
Dec—
2025
Jan+6.3%
Feb+0.2%
Mar-2.9%
Apr-10.1%
May+0.9%
Jun+8.4%
Jul-2.8%
Aug-6.9%
Sep+1.2%
Oct-6.3%
Nov+7.3%
Dec+4.2%
2024
Jan-5.1%
Feb-0.5%
Mar+10.8%
Apr-2.2%
May-1.5%
Jun+5.1%
Jul+7.0%
Aug+4.9%
Sep-2.8%
Oct-6.6%
Nov+4.7%
Dec+2.9%
2023
Jan+5.3%
Feb+0.0%
Mar+2.4%
Apr+1.8%
May+3.6%
Jun+5.2%
Jul-2.3%
Aug-8.6%
Sep-10.5%
Oct-14.0%
Nov+17.7%
Dec+13.6%
2022
Jan-9.0%
Feb+1.7%
Mar+2.5%
Apr-13.9%
May-0.3%
Jun+1.9%
Jul+29.9%
Aug+6.2%
Sep-17.2%
Oct+8.7%
Nov+5.5%
Dec-15.0%
2021
Jan-13.2%
Feb+3.9%
Mar+28.9%
Apr+13.0%
May+1.4%
Jun-4.8%
Jul+3.9%
Aug+3.2%
Sep-4.7%
Oct+10.8%
Nov-2.4%
Dec+4.3%
2020
Jan+2.0%
Feb-8.7%
Mar-26.4%
Apr+7.1%
May-0.5%
Jun+2.2%
Jul+3.2%
Aug-6.3%
Sep-6.1%
Oct-5.4%
Nov+27.0%
Dec+31.2%
2019
Jan+12.7%
Feb-0.4%
Mar+2.6%
Apr-1.7%
May+1.7%
Jun+0.8%
Jul-1.3%
Aug+3.4%
Sep+2.5%
Oct+5.2%
Nov-1.5%
Dec-3.9%
2018
Jan-4.1%
Feb-6.9%
Mar+5.1%
Apr+0.0%
May+1.6%
Jun+3.2%
Jul+1.0%
Aug+3.6%
Sep+1.0%
Oct-2.5%
Nov+10.1%
Dec-6.4%
2017
Jan-3.0%
Feb+6.3%
Mar-4.4%
Apr-1.5%
May-1.0%
Jun+0.0%
Jul+5.8%
Aug+0.5%
Sep-3.5%
Oct+0.5%
Nov+1.0%
Dec-1.0%
2016
Jan-1.8%
Feb-6.0%
Mar+14.1%
Apr-3.9%
May+7.0%
Jun+3.3%
Jul+4.2%
Aug-1.0%
Sep+1.5%
Oct-4.0%
Nov-3.7%
Dec+8.2%
2015
Jan+7.2%
Feb-4.9%
Mar+4.5%
Apr-4.3%
May+1.9%
Jun-2.5%
Jul+5.8%
Aug-7.4%
Sep+2.6%
Oct+5.8%
Nov-1.8%
Dec+5.0%
2014
Jan+8.1%
Feb+7.8%
Mar+0.9%
Apr+2.7%
May+2.6%
Jun+10.2%
Jul+6.2%
Aug+0.7%
Sep-7.2%
Oct+12.4%
Nov+4.8%
Dec+0.0%
2013
Jan+0.8%
Feb+10.0%
Mar+2.8%
Apr+1.8%
May-2.7%
Jun+0.0%
Jul-2.8%
Aug-5.7%
Sep+2.0%
Oct+0.0%
Nov-9.6%
Dec+3.3%
2012
Jan+7.2%
Feb+2.0%
Mar+6.3%
Apr+2.8%
May+0.4%
Jun-0.3%
Jul+1.4%
Aug-2.5%
Sep-2.0%
Oct+2.9%
Nov-5.4%
Dec+7.8%
2011
Jan-1.2%
Feb+1.1%
Mar-0.9%
Apr+5.9%
May-0.4%
Jun-4.5%
Jul+7.1%
Aug-2.3%
Sep-16.7%
Oct+11.5%
Nov-11.4%
Dec+5.2%
2010
Jan-3.3%
Feb+8.3%
Mar+10.4%
Apr+22.0%
May-7.6%
Jun-6.2%
Jul+10.9%
Aug-4.4%
Sep+4.8%
Oct+9.1%
Nov+3.7%
Dec+7.2%
2009
Jan-23.4%
Feb-41.1%
Mar+5.0%
Apr+33.2%
May+31.1%
Jun-6.4%
Jul+5.9%
Aug+30.8%
Sep+21.0%
Oct-15.8%
Nov+9.9%
Dec+18.5%
2008
Jan+13.6%
Feb-12.7%
Mar+3.9%
Apr+3.4%
May+8.5%
Jun-13.9%
Jul+8.3%
Aug+3.7%
Sep-1.1%
Oct-53.5%
Nov-21.5%
Dec+20.1%
2007
Jan+11.6%
Feb-6.4%
Mar-1.7%
Apr-4.3%
May+0.0%
Jun-8.2%
Jul-15.8%
Aug+7.3%
Sep+1.0%
Oct+3.5%
Nov-13.5%
Dec-6.5%
2006
Jan+12.3%
Feb+4.2%
Mar+5.9%
Apr-4.8%
May-1.9%
Jun+0.5%
Jul+10.7%
Aug+7.8%
Sep+6.3%
Oct+5.7%
Nov+0.9%
Dec-0.9%
2005
Jan-6.8%
Feb+8.4%
Mar-2.7%
Apr+2.4%
May-1.2%
Jun+10.3%
Jul+7.5%
Aug-7.8%
Sep-2.8%
Oct-1.0%
Nov+2.3%
Dec-0.8%
2004
Jan+2.0%
Feb-6.2%
Mar-4.2%
Apr-9.4%
May+4.9%
Jun+7.8%
Jul+2.6%
Aug+13.1%
Sep-2.1%
Oct+5.6%
Nov+0.6%
Dec+6.0%
2003
Jan-3.0%
Feb+3.6%
Mar-0.8%
Apr+3.5%
May-4.6%
Jun-1.7%
Jul+13.9%
Aug+0.0%
Sep+1.9%
Oct+4.0%
Nov-15.2%
Dec+1.3%
2002
Jan-2.8%
Feb+3.6%
Mar+7.0%
Apr+1.6%
May-3.6%
Jun+5.6%
Jul-8.5%
Aug-1.1%
Sep-10.8%
Oct-9.7%
Nov+8.8%
Dec+0.2%
2001
Jan-6.1%
Feb-4.6%
Mar+1.0%
Apr+0.3%
May+4.7%
Jun+5.1%
Jul-4.1%
Aug+5.5%
Sep-5.6%
Oct-5.5%
Nov+6.1%
Dec+2.7%
2000
Jan-4.9%
Feb+17.9%
Mar+3.2%
Apr+4.1%
May+19.4%
Jun+8.0%
Jul+11.9%
Aug+7.3%
Sep+854.7%
Oct-0.8%
Nov+2.2%
Dec+8.5%
1999
Jan-0.2%
Feb+23.3%
Mar-7.3%
Apr+10.5%
May+22.2%
Jun+1.8%
Jul-4.5%
Aug+17.2%
Sep-6.7%
Oct-1.6%
Nov+16.5%
Dec+7.1%
1998
Jan+1.0%
Feb+14.0%
Mar+5.7%
Apr-2.9%
May+20.8%
Jun+1.3%
Jul-3.8%
Aug+5.1%
Sep+10.2%
Oct-7.5%
Nov+15.6%
Dec+18.0%
1997
Jan-4.9%
Feb+28.1%
Mar+0.4%
Apr-4.7%
May+18.6%
Jun+1.3%
Jul+13.3%
Aug+17.0%
Sep+11.4%
Oct-1.9%
Nov+12.7%
Dec+3.9%
1996
Jan+7.7%
Feb+22.2%
Mar+1.2%
Apr+0.6%
May+17.9%
Jun-6.3%
Jul+6.0%
Aug+28.1%
Sep+2.4%
Oct+10.7%
Nov+27.8%
Dec+14.1%
1995
Jan+3.6%
Feb+28.4%
Mar+1.4%
Apr+2.1%
May+24.6%
Jun+8.8%
Jul+1.2%
Aug+25.3%
Sep+1.2%
Oct-3.0%
Nov+17.4%
Dec+1.3%
1994
Jan—
Feb—
Mar—
Apr—
May—
Jun—
Jul—
Aug-0.7%
Sep-5.4%
Oct+5.0%
Nov+8.5%
Dec+2.2%
Avg
Jan+0.2%
Feb+3.0%
Mar+2.1%
Apr+1.9%
May+5.2%
Jun+1.2%
Jul+3.9%
Aug+4.3%
Sep+25.6%
Oct-1.2%
Nov+3.9%
Dec+5.1%
Median
Jan-0.6%
Feb+1.8%
Mar+2.5%
Apr+1.7%
May+1.5%
Jun+1.3%
Jul+4.2%
Aug+3.3%
Sep-0.0%
Oct-0.4%
Nov+4.2%
Dec+4.0%
Last 5Y Avg
Jan-0.7%
Feb+0.3%
Mar+1.0%
Apr-4.0%
May+0.3%
Jun+3.1%
Jul+7.1%
Aug-0.2%
Sep-6.8%
Oct-1.5%
Nov+6.6%
Dec+2.0%
Std Dev (σ)
Jan8.0%
Feb13.2%
Mar8.6%
Apr8.9%
May9.8%
Jun5.8%
Jul8.2%
Aug10.2%
Sep151.5%
Oct12.0%
Nov11.4%
Dec8.8%
Consistency (μ/σ)
Jan0.03
Feb0.23
Mar0.24
Apr0.21
May0.53
Jun0.20
Jul0.48
Aug0.42
Sep0.17
Oct-0.10
Nov0.34
Dec0.58
Win Rate (%)
Jan47%
Feb59%
Mar69%
Apr59%
May59%
Jun61%
Jul71%
Aug63%
Sep50%
Oct47%
Nov69%
Dec75%
Winning / Losing Months
Jan▲15▼17
Feb▲19▼13
Mar▲22▼10
Apr▲19▼13
May▲19▼13
Jun▲19▼12
Jul▲22▼9
Aug▲20▼12
Sep▲16▼16
Oct▲15▼17
Nov▲22▼10
Dec▲24▼8
Longest Win / Loss Streak
Jan▲4▼5
Feb▲6▼3
Mar▲5▼3
Apr▲7▼5
May▲7▼3
Jun▲6▼7
Jul▲5▼2
Aug▲7▼4
Sep▲4▼5
Oct▲3▼6
Nov▲9▼3
Dec▲11▼3
Best
Jan+13.6%2008
Feb+28.4%1995
Mar+28.9%2021
Apr+33.2%2009
May+31.1%2009
Jun+10.3%2005
Jul+29.9%2022
Aug+30.8%2009
Sep+854.7%2000
Oct+12.4%2014
Nov+27.8%1996
Dec+31.2%2020
Worst
Jan-23.4%2009
Feb-41.1%2009
Mar-26.4%2020
Apr-13.9%2022
May-7.6%2010
Jun-13.9%2008
Jul-15.8%2007
Aug-8.6%2023
Sep-17.2%2022
Oct-53.5%2008
Nov-21.5%2008
Dec-15.0%2022
−53.5%+854.7%
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