Multifamily has enjoyed a long run as a favored commercial property type over the past decade. And despite a recent surge in new supply that has taken some of the edge off of enthusiasm, market participants are holding onto a positive outlook.
Exclusive research conducted by NREI shows that a majority of survey respondents are predicting stable or improving fundamentals in the coming year, with a continued appetite to maintain or expand portfolios. The market remains optimistic even as concerns about high levels of construction move higher. Views on whether there is too much new construction occurring increased from 36.5 percent a year ago to 43 percent who now believe there is too much construction. Nearly one-third (35 percent) believe it is the right amount and 12 percent think it is too little, while 10 percent said they were unsure of the answer.
Read more...Exclusive Research: Defying Gravity via NREI