Despite uncertainty surrounding the election and slowing rent growth in some higher-priced markets, U.S. multifamily properties remained a favored asset class during Q4 2016.
Overall, rent growth continued and vacancy held steady, while development was active and demand was elevated. Job growth remained strong, although economic growth remained slow, and uncertainty hung around the new administration and rising interest rates.
According to Reis, the average asking rent for multifamily properties in the U.S. reached $1,308/unit at the end of the year, a 3.7% increase over $1,261/unit one year ago. This marked the 28th Continue Reading