Just-Released: 2017 Viewpoint National Multifamily Report
Feb 28, 2017
We are pleased to announce the latest in a series of stand-alone reports that dive into deeper detail than what was covered in the 2017 Viewpoint Annual Report:
2017 Viewpoint National Multifamily Report
IRR’s Viewpoint 2017 Multifamily Report provides you commentary and metrics compiled by seasoned commercial real estate appraisers and consultants who have extensive knowledge of their markets.
Is Multifamily Still Hot?
Good News
The Millennial and Generation X cohort – those between the ages of 18-44 – will increase from 116million to approximately 128 million by 2020. At one point or another, those additional 12 million residents will be renters.
Not-So-Good-News
While Integra Realty Resources’ data points out that most apartment markets are in Expansion, 10% of markets are in Hypersupply. New construction is getting ahead of demand, with the deliveries consisting of luxury apartments. With new jobs coming in low- and moderate-income occupations, developers will have to increase its offerings to meet demand.