Sponsored by Freddie Mac
Many in the industry believe it will. In fact, a new survey commissioned by Freddie Mac found that 60 percent of multifamily industry participants expect the market to grow over the next 3-5 years, while only about 15 percent see it slowing down.
Driving this is a combination of demographic trends, population growth and changing consumer preferences, which has boosted demand to levels we have not seen in a generation or more. Baby boomers are looking to downsize, while many millennials want to start new households. New renter households have increased by 9 million in the past 10 years – the largest decade increase on record. Consumers are also showing a growing preference for renting, with Freddie Mac’s recent renter research finding that an increasing number are planning to rent their next home.
Meanwhile, supply continues to remain scarce in most markets. The United States is facing an annual shortfall of about 400,000 housing units. Despite more units entering the market every year, rents continue to rise, averaging about a 3 percent annual increase so far this year. Vacancy rates remain relatively flat.
Multifamily investors increasingly need flexible, creative financing to meet this growing demand. They need a partner that can help them serve all segments of the market — and achieve their financial objectives.
Freddie Mac Multifamily has made innovation a competitive advantage, offering financing to serve the full spectrum of borrower and housing needs across the market. This includes loan products for the acquisition or refinance of affordable workforce housing, seniors housing, smaller properties with as few as five units and even financing to increase the energy and water efficiency of units.
Learn more at www.freddiemac.com/innovate.