Rental Housing’s Key Trends Heading Into 2024
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A report on key trends for 2024 shows more of the same, including the fact that more housing is still sorely needed. Although the rental market is softening due to robust new builds, the short-term spurt won’t be enough to supply the needed 4.3 million new units by 2035. Once the supply that’s in the pipeline hits the market and is absorbed, we could see demand rise even more. This is especially true considering the cost of ownership remains steep. However, stubbornly high interest rates, ballooning insurance premiums and larger operational costs will pose challenges for developers. That said, multifamily is poised to remain strong and weather any recession.
Source: https://www.globest.com/2023/11/27/rental-housings-key-trends-heading-into-2024/?slreturn=20231107162606
