With strong fundamentals, new construction starts and a sizeable amount of capital on the sidelines, "now is the right time to buy" in multifamily, according to John Sebree, senior vice president and national director, Multi Housing Division, at Marcus & Millichap.
Speaking in a recent news video by his firm, Sebree said, "Occupancy remains very high, rent growth continues to be very strong, and we're dealing with a housing shortage in this country and there has been an unprecedented amount of new deliveries that have been coming to the market over the past couple of years."
From Q4 2022 through Q3 2023, new multifamily starts have dropped by over 50%, Marcus & Millichap points out.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
