280,000 multifamily units will be delivered in 2019, slightly under 2018’s 290,300 units
Multifamily completions will remain high in 2019, but construction starts will finally fall, promising greater market balance in 2020. Secular and cyclical trends are positioned to remain highly favorable for multifamily demand, causing robust net absorption next year. Nevertheless, vacancy will inch up and rent growth will be under its long-term average. The multifamily sector will continue to attract high levels of investment and debt capital, and workforce housing will remain an appealing investment strategy given its favorable supply/demand balance. Learn how to be in an advantageous position next year by exploring CBRE’s 2019 Multifamily Outlook Report.
Source: CBRE Research, CBRE Econometric Advisors, Q4 2018. Note: 2018 is estimate by CBRE EA as of Q3 2018. 2019 is projection by CBRE Research.