Rental Housing Journal’s Post

Even with a notable 50% drop in multifamily starts since early 2023, the construction pipeline is far from depleted. Yardi Matrix’s latest report shows elevated completion timelines and a solid 4.27 million units in the planned and prospective pipelines, indicating that steady supply will continue through early 2026. With Sun Belt markets slowing and Northeast cities picking up steam, investors should keep a close watch on region-specific opportunities as timelines and supply chains shift. #newconstruction #multifamilymarket

Get the inside scoop on the current state of multifamily construction. Discover the latest trends and challenges shaping investments across the landscape. #MultifamilyConstruction #IndustryInsights https://hubs.ly/Q02HqsG_0

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Construction timelines remain elevated across property types in the multifamily sector. Yardi Matrix has slightly adjusted its multifamily supply forecast, citing a larger under-development pipeline and extended completion times. However, it anticipates a deceleration in new-construction activity, projecting that new supply will bottom out in 2026. #MultifamilyHousing #RealEstateMarket #SupplyForecast #YardiMatrix

Yardi Matrix Anticipates Slowdown in New Construction in 2024 Multifamily construction starts declined in 2023, but exceeded expectations considering the turmoil in the financial markets. A new report on multifamily construction starts from Yardi Matrix states that the number of units that broke ground in 2023 ranks third in recent years, behind 2022 and 2021. https://lnkd.in/gYzwnVqY

📊🌆 The annual total of multifamily permits issued in the top 10 metros reached 151,650 as of April, about 25% less than the 203,060 issued in the previous 12 months and down approximately 2.5% from March. #MultifamilyHousing #RealEstateTrends #HousingMarket #Construction

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Multifamily Construction Slows, but Pipeline Remains Strong 📊 Multifamily construction starts are down 50% from early 2023, but Yardi Matrix reports that completion rates will stay high into early 2026 due to longer project timelines. The pipeline remains robust, with nearly 1.2 million units under construction and lease-up activity steady. #MultifamilyInvesting #RealEstateTrends #ArcEquity

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Tight multifamily fundamentals in Milwaukee and Madison aren't positioned to let up any time soon. The two metros stand as some of the highest-occupancy markets in the country and demand for new supply relative to the pace of new supply additions has been among the strongest nationwide. In fact, Madison ranks as the top market in the country for what I would call a severe supply-demand imbalance. Across the country, it would take an estimated 2.9 years on average for renters to absorb new and under-construction inventory if nothing else were to break ground today. In Madison, that figure falls to just 1.3 years, with Milwaukee also outperforming the average at 2.7. Construction activity has fallen in Milwaukee and Madison by roughly 35% and 50% from peak levels two years ago, and based on the recent velocity of construction starts, this figure is set to fall further in the coming quarters. With recent rate cuts, we could see some relief on the borrowing side that could help put more shovels in the ground early next year, but there really needs to be a concerted effort across state, county, and local governments to dig us out of these holes. And this isn't just true in Milwaukee and Madison. There's a statewide housing shortage. As announced by Lafayette Crump at the BizTimes Media Commercial Real Estate and Development Conference a couple of weeks ago, I applaud the City of Milwaukee for pursuing the development of a program that would help fund the development of housing at 60-100% of AMI. In conversations I have with developers across the state, it's clear that new tools are needed to help facilitate development across a variety of housing types and price points. There is no one-size-fits-all solution, and we don't know yet what it'll look like, but this program could be a great step toward progress and addressing prohibitive funding gaps that have seen many developers to go pencils down in a segment that sorely needs it. Thoughts? Questions? Seeing something else in the market? Drop a comment 👇