Apartments.com's latest growth report reveals that
#multifamily fundamentals continued to deteriorate throughout Q4 with limited absorption, significant imbalances between supply and demand and ongoing economic uncertainty.
“We ended the year with absorption barely remaining positive and vacancy rates trending upwards,” said Jay Lybik, National Director of Multifamily Analytics at CoStar Group. “As 2022 progressed, economic uncertainty suppressed household formations which limited multifamily demand. Consumer confidence started off weak early on with high inflation and the war in Europe, only to be continued by the Fed’s interest rate hikes and impending recession fears. With 2023’s national forecast predicting the highest new supply totals since the 1980s, expect vacancy to rise above 7% and rent growth to push much lower.”
Read the full report to discover the latest multifamily rent growth trends: https://bit.ly/3CEbIJX
