Weakened economic drivers including employment growth and overall household income, stemming from the COVID-19 pandemic, are expected to weaken the multifamily market for the rest of 2020 and result in higher vacancy rates and lower rent growth.
That forecast comes from Freddie Mac Multifamily in its 2020 Midyear Report , which suggests the multifamily market and the wider economy are "inexorably tied" to how well and when the coronavirus is contained.
"Ultimately the economy is unlikely to begin its return to full strength until an effective treatment or vaccine is available," the federal agency wrote in the report.
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Brenda Sapino Jeffreys
Senior reporter Brenda Sapino Jeffreys covers the business of law in Texas. Contact her at [email protected] On Twitter: @BrendaSJeffreys
