Multifamily Trends
- From 2010 to 2018, more than 1,491 units of purpose-built multifamily entered the market with an additional 172 units nearing completion.
- During 2017, vacancy has steadily declined to approximately 14 percent.
- Rates have dropped by approximately 14 percent or more than $150 for a two-bedroom unit.
- In 2017, multifamily accounted for more than half of all investment activity primarily due to the debt default of the New Summit Portfolio which was assumed by the lenders.
