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Freddie Mac: Multifamily Mid-Year Outlook 2016
The multifamily housing market is moderating but will remain strong this year and into next, according to Freddie Mac’s Multifamily Mid-Year Outlook 2016, released August 2nd.
Multifamily fundamentals moderated in the first half of 2016, slowing from 2015’s record-high growth, as was expected for this phase of the economic cycle. The moderation indicates a healthy market is moving toward equilibrium. Strong economic and demographic fundamentals will continue to support growth in the multifamily industry, but at more sustainable levels.
“We entered a period of positive moderation during the first half of 2016 that is natural at this point in the economic cycle,” said Steve Guggenmos, Freddie Mac Multifamily vice president of research and modeling. “Rather than indicating overproduction, current and projected supply levels show a measured response to market changes and demand from Millennials and other groups with high propensities to rent. We expect the multifamily sector to continue to grow at above pre-recession levels, although market differences will continue to vary.”
Read more at FreddieMac.com