by Calculated Risk on 1/23/2024 11:31:00 AM
Yesterday, Chris Bruen, Senior Director of Research at NMHC and Kim Betancourt, CRE, Vice President, Multifamily Economics and Strategic Research at Fannie Mae presented the State of the Multi-Family Market (see video recording of presentation).
Here are a couple of slides from the presentation by Betancourt:
The vacancy rate bottomed in Q2 2022 and has steadily increased. This is due to a combination more supply and less household formation (not mentioned in the presentation).
The second graph shows annual rents and vacancy rates.
There are a couple of more graph in the presentation showing coming multi-family supply and rents by metro area.