Yardi Matrix increases short term multifamily supply forecast

The multifamily housing supply could increase by up to nearly seven percent by the end of 2023, stated the latest Multifamily Supply Forecast from Yardi® Matrix.

The third quarter 2023 supply forecast update has increased forecast completions 6.9 percent for 2023 and 6.5 percent for 2024. The near-term forecast was increased this month as the under-construction pipeline continues to expand, and 2023 construction starts to date have not exhibited any signs of a slowdown.

For multifamily markets tracked on or before January 2020, t