Freddie Mac Sees Another Strong Year For Multi-family
In its recently released 2017 Multi-family Outlook report, Freddie Mac sees another strong year as markets look poised to absorb new supply thanks to strong demand, modest drop in construction starts, new household formations, lifestyle changes, and economic growth.
Increased supply is expected to be matched, for the most part, with robust demand and vacancy rate will rise only slightly while rent growth will moderate, according to the report.
Cities such as Orlando, Phoenix, and Las Vegas will witness some of the strongest job growth.
Phoenix also makes it to the report's 2017 Top-10 markets by Gross Income Growth as demand for multifamily strongly outpaces supply while new construction in the past few years has been insufficient to close this gap.
The press release can be read here.
The entire report can be found here.
