Multi Family 2023 Emerging Trends Outlook - Endurance despite headwinds
PWC and ULI report on Multifamily indicates that performance continues to be robust, albeit at a slower pace. Demand remains high, vacancy low, and the sector continues to benefit from chronically low inventory. The US has a net shortage of housing units and this trend is forecast to continue for the foreseeable future. Redevelopment opportunities paired with demand and incentives for including components of affordable housing and sustainable focused construction provide attractive opportunities for developers and investors. While rising interest rates are inevitably postponing new home purchases for some, supply constraints and pent-up demand in certain markets will continue to provide momentum. Investors continue to prefer high-performing Sun Belt markets, led by Dallas/Ft. Worth, Austin, Miami, Los Angeles and Nashville.
Sperry CGA offers investment opportunities not only in gateway, but also in secondary, and tertiary markets that exhibit growing populations, above average job growth, emerging technology sectors and high level of educational attainment.
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