One shift expected from the pandemic was the movement of millennials away from apartments and toward single-family housing. Recent data and analysis show, however, that this trend may be petering out, according to a new report from Moody's Analytics. Instead, multifamily fundamentals look bright for both the short and medium term, it finds. 

Absorption was buoyed by job growth, as more than 3 million jobs were added to payrolls during the first half of the year, according to Moody's economist Thomas LaSalvia.

"While the potential for impactful, structural changes in how we live, work and play still remain, worries that large swaths of the population will head for single-family housing are losing steam," LaSalvia writes in a recent piece in the Scotsman's Guide. He recognizes that while millennials are indeed moving toward SFR, "the rapid acceleration in US home prices has – and will continue to – price out many of these potential homebuyers."