The multifamily sector will soon set a record for new construction, with more than 77,000 units delivering in the third quarter, adding to the 200,000-plus units delivered in the prior four quarters, including many still in the lease-up stage. The wave of supply is putting upward pressure on vacancies, which increased by 10 basis points in the second quarter, to 5.5 percent. While this is still low by historical standards, the pressure on the market will only build in the
Register to view the full article
This article is part of our premium content subscription. You need to subscribe to gain access to premium content.
Why Register for NREIonline? It's simple and free, and here is what you get:
• Access to leading real estate industry research.
• Interactive rankings of commercial real estate professionals.
• Submit your own articles, (if approved) which will appear around the site.