National housing stock undersupply data supports multi-housing fundamentals

JLL Capital Markets has released data demonstrating that the imbalance of the national housing stock undersupply became far more pronounced in the past decade.

2022 is showing total U.S. Households at almost 130 million, and the quarterly total housing completions at about 1 million. This limited supply nationally, along with low unemployment, rising wages and a resurgence of urban rentals further establishes the strength in multi-housing as an investment sector in the United States.

Supply and demand drivers that are continuing to underscore longevity of multi-housing sector include: entrance of Gen Z into professional world; millennial debt loads; housing affordability; zoning constraints on multi-family development and construction costs; employment growth; and subsequent in-migration to Sun Belt and West Coast.