(How is tech impacting the multifamily real estate? Here's one take.)

The majority of technology-centric employment hubs have significantly outpaced the national average for rental growth of 17.5% over the past five years. That's good news for Atlanta, with its strong and growing tech hub.

“Record level of new supply hitting the market has weighed on rent growth, however, we expect healthy growth nationwide moving forward with demand outpacing new supply in 2018,” Okland says. “It's a bit early for 2018 predictions, but Florida remains hot on the radar of investors with all of the larger metros in the state experiencing higher than average employment growth.”

ATLANTA—Employment growth is positive nationwide—but Atlanta, Florida, Las Vegas and Nashville are reporting robust growth. That bodes well for the multifamily market in these areas.

That's according to ARA Newmark's Q2 2017 Multihousing Market Overview. Yields remain stable throughout the country at 5.6%, with secondary and tertiary markets primarily in the Midwest and Southwest offering the highest multifamily yields.

“We anticipated 2017 to be very similar to 2016 in terms of deal flow—slow to begin the year, and picking up substantially in the second half,” Blake Okland, vice chairman and head of US Multifamily at ARA Newmark, tells GlobeSt.com. “So far that's been the case this year, too, with 1Q being very slow and a 25% year-over-year pick up in 2Q. In 2017, the slow start to the year was primarily driven by the election results and the subsequent broader capital markets reaction to it. In addition, buyers were full on multifamily and the lack of deals on the market in early 2017 contributed to less trades.”

With nearly $8.5 billion invested in multifamily over the past 12 months, overseas investors are mainly acquiring assets in secondary markets of the Southeast and Southwest. Although supply has outpaced multifamily demand for the past two years, strong absorption is anticipated with less new product coming to market in 2018 and 2019.

(How is tech impacting the multifamily real estate? Here's one take.)

The majority of technology-centric employment hubs have significantly outpaced the national average for rental growth of 17.5% over the past five years. That's good news for Atlanta, with its strong and growing tech hub.

“Record level of new supply hitting the market has weighed on rent growth, however, we expect healthy growth nationwide moving forward with demand outpacing new supply in 2018,” Okland says. “It's a bit early for 2018 predictions, but Florida remains hot on the radar of investors with all of the larger metros in the state experiencing higher than average employment growth.”