Market Trends

Commercial real estate remains a highly favored investment class, and multifamily stands above the rest.

As rising real estate prices have been reshaping homeownership across the country, the commercial landscape has also been going through a drastic shift

The Northeast and Midwest regions led gains, with New York City (6.2 percent year-over-year), Kansas City (4.0 percent), New Jersey (4.0 percent), Columbus (3.4 percent) and Chicago (3.2 percent) posting the highest advances.

Single-family permits that start in October 2023 were 13% higher in the U.S. than the prior year From September to October this year, multifamily starts and multifamily permitting rose in the U.S. as a whole.

More than 80% of panelists believe interest-rate cuts will begin in 2024, with most expecting cuts to start in the second or third quarter of 2024.

In 2023, the U.S. multifamily market has seen a significant upswing in renter demand, especially for mid-priced apartments rated three stars. This shift marks a recovery from a sluggish performance in the latter half of 2022.