The consensus is that the current multifamily supply is manageable at the national level due to primarily two reasons. First, pent-up demand (due to a lack of available product at the same time we have strong demographic drivers) is evident in the marketplace. Second, following very light completions totals from 2010 through 2012, the current supply pipeline is still catching up, even though total starts exceed the long-term average. While the overall state of the market is evident, let’s explore which metros could be vulnerable to a near-term supply overhang.
For this article, we viewed supply and demand using a common size approach in select markets. By this measure, we looked at the number of units under construction today as a percentage of existing units for a given market.
Read more...What Metros are Vulnerable to a Short-Term Supply Overhang? (Part 3 of 4) | Property Management Insider
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