Multifamily Construction Update (January 2020)
Multifamily completions are scheduled to hit 371,000 in 2020, a 50% increase from 2019. Still, new 2020 construction starts are expected to remain steady, causing
Multifamily completions are scheduled to hit 371,000 in 2020, a 50% increase from 2019. Still, new 2020 construction starts are expected to remain steady, causing
Apartment demand is expected to decrease in 2020, even after strong absorption in 2019. Rent control will affect certain markets negatively with increased regulations. Rent
Lower 2020 expected deliveries may finally catch up with construction labor shortages, easing the cost burden on developers. There is also a high-impact $2B “pop-up
Multifamily Occupancy is at its highest rate since 2000, and rental growth stays relatively strong. US homeownership rates are rising, even though apartment occupancy is
CBRE’s third-quarter 2019 report continued to demonstrate sustained high-levels of multifamily demand throughout the United States, with net absorption of 307,600 outpacing completions of 256,000
Apartment vacancy rates are hitting their lowest points in nearly two decades and rent growth has continued to increase from this time last year. Prime
2019 deliveries continue above historical averages, however, some major markets with nation-leading fundamentals are experiencing year-over-year declines. Still, 2020 is expected to see significant inventory
Multifamily demand is still strong, but the delivery of units is taking longer. Rental growth is slowing as we begin the fourth quarter of 2019.
Copyright © NYMT 2023 | Designed by IMG | Privacy Policy