Fannie and Freddie on the road to better financial health while slightly reducing their competitive position in the multifamily market.

The multifamily sector weathered the storm in 2020, living up to its reputation as one of the most stable commercial real estate asset classes.

Collections for public housing reached 97% of 2019 rates, and affordable housing reached 83%—the highest level for the latter class since June.

After apartment leasing slowed drastically in the spring and early summer of 2020, due to the COVID-19 pandemic, demand rebounded in the last half of the year.

Over the last 10 years, anyone could do well in multi-family, and we expect that 2021 will see a separation of the good from the not so good. A bifurcation in performance is coming that will present new buying and business growth opportunities for top performers.

Last year turned many apartment fundamentals on their head in ways that could have lasting effects.