Multifamily fundamentals are expected to stabilize as soon as the second quarter of this year, according to new research from CBRE. In a new report, the firm says it expects “steady market recovery” through the second half of 2021.
Net absorption for multifamily during the fourth quarter of 2020 totaled 55,600 units, a number the firm described as “far better than expected” since leasing is normally anemic during these months of any year, as well as during recessions. Absorption for the past four quarters clocked in at 190,600 units, and suburban submarkets, smaller markets, and the Midwestern, Mountain West and Southeast regions fared better than average—as did Class B and C assets.
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