Even as 2016 is shaping up to be the best of times for most multifamily markets, there are some markets that will likely lag. With U.S. multifamily continuing to be a globally sought-after asset class, investor demand will stay strong. This bodes well for most multifamily markets.
According to Steve Guggenmos, Freddie Mac’s director of multifamily research and modeling, “Our forecast is that there will be continued strength in the market. We see vacancy rates going from somewhere in the range of 4.5 percent at the end of 2015 to maybe 4.9 percent at the end of 2016, with new supply. But that continues to be lower than the long-run average. And we expect that rent growth will be consistent with a strong occupancy environment.”
Read more...Finance Forecast for 2016
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