Matrix Multifamily National Report December 2022
This report forecasts a slowdown in the multifamily sector this year, including a return to a more average rent growth of 3.1 percent after hitting double digits in early 2022. It sees demand softening due to a decline in affordability along with less migration and fewer new households. Also, the 2.9 increase in stock yielding 440,000 new units will ensure deliveries remain high, although inflation, the ongoing worker shortage and lags in entitlements might dampen that. Transactions also might slow down due to higher mortgage rates, subsiding rent growth and lenders becoming more cautious.
