M&M: USA multifamily apt outlook very positive
September 7, 2021
Insightful report from Marcus & Millichap (June ‘21) on the US multifamily market.
Sharing these great slides:
- Work from home is here to stay. Their survey shows more than half of workers want to WFH majority of the week. A recent WSJ article reported that surveys have shown that “enthusiasm for remote work has only increased as the pandemic has stretched on.” The noted that PWC surveyed employers across the USA in June 2020 and Jan 2021 and respondents who said they deemed remote work “successful” increased from 73% to 83% and the percent of workers who said they wished to remained fully remain rose fro 29% to 41%.
Southern states benefiting most due to quality of life, affordability
Apt demand remains “exceptionally” strong with no risk of oversupply:
Demand for B and C assets expected be strongest with lowest vacancies
Yes cap rates compressing but spread with US treasures make the asset class just as attractive
View the full M&M report: