Delinquency rates for mortgages backed by commercial and multifamily properties declined during the fourth quarter of 2021, according to the new Mortgage Bankers Association’s latest CREF Loan Performance Survey.

In its U.S. Multifamily Outlook for Winter 2022, Yardi Matrix forecasts that the fundamentals of the multifamily housing business will remain strong in 2022 as the wider economy continues its recovery.

Strong demand drove up apartment occupancy 2.1 basis points year-over-year to 97.5%. Both the increase and the resulting rate were the highest on record since RealPage began tracking apartments in the early 1990s.

The changes in rent since the pandemic started reveal much about demand and where growth could be concentrated going forward. Sheltering in place and working from home has loosened the link between home and work and limited the cultural advantages of large cities.

The U.S. apartment sector has experienced a rebound in both deal volume and asset pricing, but the performance varies across markets. The strongest growth in asset pricing tends to be concentrated in the Non-Major Metros

Cities and states have accelerated their distribution of Emergency Rental Assistance funds, leaving less extra money than expected in the pool for those who need it most.