What to Watch in 2024: Multifamily Outlook Offers Demand the Chance To Match Supply
Source: Orion Investment Real Estate
On the heels of last year’s spike in new apartments, developers are pulling back. About 590,000 new units were completed in 2023, a 40-year high. In 2024, about 444,000 are expected to come online, which is still more than the five-year, pre-pandemic average of 360,000. However, Phoenix in particular is still doing its part to ease the housing crisis with 14,000 to 16,000 units expected to open in 2024.
Source: https://www.orionprop.com/topfive/what-to-watch-in-2024-multifamily-outlook-offers-demand-the-chance-to-match-supply/
