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Multifamily market continues its resilience
The multifamily property market has yet to see any softening in its popularity with investors and is continuing its strong performance, according to the second quarter 2016 Multifamily Investment Outlook from JLL.
Although the U.S. single-family housing market has seen gradual gains, the millennial demographic continues to support multifamily housing. Renter-occupied household formations have surpassed owner-occupied household formations in spite of the gradual gains in the United States housing market, according to the JLL report.
The leasing markets have remained tight in spite of sustained completions and moderating absorption. Completions increased 10 basis points, 1.9 percent of inventory, nationally in comparison to first quarter 2015.