Here is the latest in economic and multifamily trends:
Multifamily Continues Strong Performance
A recent survey from PricewaterhouseCoopers highlights strong performance in the commercial multifamily sector and a positive outlook for 2013. The survey reinforces that core and strong secondary multifamily markets with proven job growth and reasonable pricing are still the best place to invest.
The report can be found here.
Vacancy Rates Decline
Multifamily vacancy rates continue to drop. Current vacancy is nearly half of its peak in 2009 and with Echo Boomers steadily entering the rental market, we expect these rates to remain near historical lows for the next 10 years and beyond.
Reuters has a concise analysis of the most current REIS (one of the leading commercial real estate analytics firms) report, found here.
The recent national foreclosure data suggests the housing recovery is continuing. A healthy housing market means more jobs and lifts the economy, which is good for multifamily investors. Note there are still pockets of the country (e.g. New England, Florida) that are experiencing an uptick in foreclosures, but the national picture continues to improve.
Tom Lawler, a respected economist who focuses on housing trends, sent his findings to Calculated Risk, one of our favorite sites for economic data. You can find the article here.