It is clear that the once high-growth Sunbelt multifamily markets are slowing as more supply enters the market pushing rent down. But a new analysis from CBRE suggests that the region's fall is likely to be only temporary.
Since the pandemic, CBRE has divided the country into four markets of similar multifamily rent growth patterns: Sun Belt/Mountain, Urban Hubs (Boston, New York, Washington, D.C., Chicago, Los Angeles, San Francisco Bay and Seattle), Northeast/Midwest and Florida.
The Northeast/Midwest regional group is expected to displace the Sun Belt/Mountain market as the top dog in cumulative multifamily rent growth, which is predicted to be 5.2% over the next two years, according to CBRE.
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