May 3, 2023

Multifamily may see a few short-term softening effects due to the recent significant influx of new product coming online, but that shouldn’t last long and will likely vary by market. When the National Multifamily Housing Council (NMHC) and National Apartment Association issued their joint report stating that the U.S. multifamily market was down more than four million rental units and needed to build half a million immediately and another 266,000 more a year to keep up with demand, many wondered how that would ultimately play out. More