Multifamily demand is soaring, reaching 362,000 units during the first three quarters of 2024 and exceeding all full years studied by Cushman & Wakefield other than 2021. The market is nearly 50% above last year’s full-year total, said Sam Tennenbaum, Cushman & Wakefield’s head of multifamily insights.
“The natural question is, where are all these renters coming from?” said Tennenbaum. “It's hard to point to one source of apartment demand. It's always a mix of factors.”
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