Jeremiah Jensen | housingwire.com
It looks the multifamily housing market is going to continue its strong performance with continued gradual correction, according to Freddie Mac, which just released its mid-year multifamily outlook. Same rent, different day.
Though new supply has been increasing vacancy rates, the increases have been incremental and moderate. Rent growth remains healthy at the national level as continued demand keeps multifamily afloat.
Completions are expected to peak sometime before fall. In the first half of 2018, deliveries increased 11%. Despite approaching the peak in deliveries, the U.S. Census Bureau reported a 2% increase in multifamily permits and a 10% increase in starts in the first of this year.