The story of multifamily so far for 2024 has been one of high supply. That has not been ideal for CRE developers and owners as it has led to flattening rents.
But Matthews Real Estate Investment Services, which represents the largest developers and clients, is still seeing enough activity in certain areas.
David Harrington, president of the brokerage firm, which leads the industry with over 20,000 transactions annually, said that he is seeing "tremendous" multifamily demand in the Southeast, particularly. So think in states like the Carolinas, Georgia, or Florida.
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