Northmarq Sees Multifamily Momentum Continuing Through 2022
Multifamily properties across the U.S. posted record-setting performances in 2021, with the momentumforecast to carry over into 2022, Northmarq says in a Multifamily National Outlook prepared by research director Pete O’Neil. Investors were drawn to the sector’s explosive rent growth, tight vacancies, spiking absorption and strong migration trends, leading to a surge in investment capital last year.
The sector continues to experience more demand than supply, giving rental operators added pricing power. The demand-supply imbalance is driven by several factors including: sticker shock from would-be homebuyers priced out of the housing market; labor shortages, supply chain deficiencies, and escalating material costs postponing construction of new multifamily product; and robust migration growth.
“Our report shows that supply continues to lag demand for rental units, leading to rent increases and a continued robust appetite for investments, which we anticipate will continue in 2022,” said Trevor Koskovich, Northmarq’s president – investment sales.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).