Ten-X's Peter Muoio Muoio: “The downturn’s effects should not be cataclysmic for multifamily owners in most markets.”

IRVINE, CA—The Bay Area would appear to be Oversupply Central as far as multifamily is concerned. The region’s three largest metro areas—San Francisco, San Jose and Oakland—are also the three leading markets in which Ten-X Commercial research suggests that investors may want to consider selling their apartment properties, due mainly to a combination of a heavy construction pipeline and declining employment growth.

With New York City and Miami rounding out the top five “sell” markets, Ten-X sees the apartment market nationally reaching an inflection point as vacancies have begun ticking upward and rent growth has decelerated. “All good things come to an end, and this truism is now to become manifest in the multifamily sector where the long-anticipated turning of the cycle is underway,” says Peter Muoio, chief economist with Ten-X.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.