{"id":3003,"date":"2022-01-27T14:11:54","date_gmt":"2022-01-27T14:11:54","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=3003"},"modified":"2023-09-21T11:01:29","modified_gmt":"2023-09-21T11:01:29","slug":"yardi-matrix-multifamily-national-report-winter-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/yardi-matrix-multifamily-national-report-winter-2022\/","title":{"rendered":"Yardi Matrix Multifamily National Report (Winter 2022)"},"content":{"rendered":"<h2>Another Year of Bullish Conditions on Tap for Multifamily<\/h2>\n<p>\u25a0 The <a href=\"https:\/\/www.yardimatrix.com\/blog\/whats-in-store-for-multifamily-in-2022\/\"><strong>multifamily market appears poised for another solid year in 2022<\/strong><\/a>, although it is not likely to match 2021\u2019s unexpected exceptional performance. We anticipate demand for apartments will remain robust, highlighted by strong economic growth and household formation. Meanwhile, capital conditions will be favorable, driven by investors\u2019 insatiable appetite for stable income and low mortgage rates.<\/p>\n<p>\u25a0 U.S. economic growth in 2022 will decelerate from its decade-long high of roughly 6% in 2021 but should remain above trend. The economy is benefiting from lingering monetary stimulus, job growth, higher wages and consumer wealth, while supply-chain issues have continued into 2022. Inflation and the labor shortage are the biggest headwinds, but most of the negative ramifications from those matters won\u2019t be felt until 2023 or later.<\/p>\n<p>\u25a0 After asking rents rose 13.5% nationally in 2021, it\u2019s an easy call to forecast a moderation in rent increases. However, we still expect overall U.S. rent growth to reach 4.8% in 2022, well above the long-term 2.7% average. The conditions that drove higher rents in 2021\u2014including pent-up demand coming out of the pandemic, strong job growth, soaring home prices and healthy consumer savings\u2014have not fully subsided.<\/p>\n<p>\u25a0 Absorption hit record levels in 2021, prompting occupancy rates to flirt with all-time highs. In that light, concerns about oversupply have become moot and builders are ramping up projects. As of the beginning of 2022, more than 750,000 market-rate apartment units were under construction. After 350,000 units delivered in 2021, we expect about 385,000 to 400,000 more in 2022.<\/p>\n<p>\u25a0 The amount of investment capital chasing multifamily, both equity and debt, is enormous. Property values are rising rapidly, driven by lower acquisition yields and increases in net income as asking rents shoot higher. Some $166 billion of multifamily transactions were completed in 2021, up 75% from 2020, and the only limit is the number of properties put up for sale. Debt availability is also robust, led by Fannie Mae and Freddie Mac, which have increased capital allocations in 2022. Multifamily debt has also driven record levels of lending by private equity funds.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/Publications\/Download\/File\/1400-MatrixMultifamilyNationalReport-Winter2022\"><strong>Matrix Multifamily National Report-Winter 2022<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Another Year of Bullish Conditions on Tap for Multifamily \u25a0 The multifamily market appears poised for another solid year in 2022, although it is not likely to match 2021\u2019s unexpected exceptional performance. We anticipate demand for apartments will remain robust, highlighted by strong economic growth and household formation. Meanwhile, capital conditions will be favorable, driven [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":3004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,13,4],"tags":[444],"class_list":["post-3003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-multifamily-market","category-national-reports","category-real-estate-trends","tag-multifamily-outlook-2022"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yardi Matrix Multifamily National Report (Winter 2022) - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"The rebounding economy and robust demand created near-perfect conditions for multifamily in 2021, leading to record-high rent growth and absorption.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/yardi-matrix-multifamily-national-report-winter-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yardi Matrix Multifamily National Report (Winter 2022)\" \/>\n<meta property=\"og:description\" content=\"The rebounding economy and robust demand created near-perfect conditions for multifamily in 2021, leading to record-high rent growth and absorption.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/yardi-matrix-multifamily-national-report-winter-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-27T14:11:54+00:00\" \/>\n<meta property=\"article:modified_time\" 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