TD Bank released its Regional Multifamily Housing Outlook, examining the outlook for multi-family housing investment in 10 major metropolitan areas along the eastern seaboard from Boston to Miami.
The report shows that the housing recovery has been dominated by the multi-family sector, both in construction activity and price growth. Over the last four years, multi-family housing starts have risen 350 percent, as the recession pushed many homeowners to renters.
“After five years of drought, multi-family starts are beginning to meet demand,” Gregg Gerken, TD Bank’s senior vice president & head of U.S. commercial real estate lending, told Commercial Property Executive. “The markets that have the highest upside are those markets that had the largest decline, due to more room for recovery.”
Read more...TD Bank: M-F Sector Dominating Housing Recovery | Commercial Property Executive