The COVID-19 pandemic ended years of healthy multifamily fundamentals. Will the industry’s pain be short-lived or the start of a new trend that is less favorable for the sector?
After nearly a decade of solid growth, multifamily asking rents dropped 0.4% nationally in April and May, with twice as many metros seeing rents decline (71) as increase (35), according to a study of 107 U.S. metros by Yardi Matrix.