Multifamily capital markets trends in November remain stable with cap rates slightly decreasing as the agencies jump back into the market. The 10-year treasury and LIBOR are also declining, reducing the cost of capital.
Below are key takeaways from the following reports:
3Q 2019 United States Multifamily Capital Markets Report – Newmark Knight Frank – Link
National Multifamily Report – October 2019 – Yardi Matrix – Link
U.S. Multifamily Figures Q3 2019 – CBRE – Link
Download the PDF version of this report here:
3Q 2019 United States Multifamily Capital Markets Report
Newmark Knight Frank
- Average per door price has eclipsed $181,000 nationwide
- Major growth markets in the south continue to benefit from capital inflows
- Canada comprises 65% of international capital flowing to US Multifamily
- Demand continues to outstrip supply nationwide
National Multifamily Report – October 2019
Yardi Matrix
- Rent growth in Western growth markets lead the nation with Phoenix, Las Vegas and Sacramento on top
- High cost markets in the West have some growth challenges given the current high cost of living
- Occupancy continues to hover around 95% and will continue to do so in most markets
U.S. Multifamily Figures Q3 2019
CBRE
- For the 2nd year, absorption has eclipsed deliveries nationwide.
- Year over year, deliveries are down 10%
- Vacancy is 3.6% nationwide, lowest since 2000
- Capital and loan underwriting have remained stable for the past year
