Freddie Mac: Multifamily To Remain Strong Through 2015
FREDDIE MAC reports the multifamily market will remain strong through 2015. Here are the highlights of its recent forecast:
- Recent declines in homeownership related to economic stress and high foreclosures in the single-family housing market have benefited the multifamily market;
The homeownership rate will
drop 1 to 2 percentage points if the current slow recovery continues;
The single-family rental
market, a growing and distinct market from multifamily, has expanded 16 percent
(about 3 million units) since 2007;- Multifamily market demand is
expected to be strong through 2015 primarily due to demographic trends and a
decreasing national homeownership rate; - Rental demand will continue
to grow faster than historical averages; - Multifamily demand is likely
to be 1.7 million new renter households between now and 2015 (slow growth
prediction). If the economic recovery accelerates, demand will be in 1 million
new renter range; and if no recovery, then in the 1.6 million range for new
renters.
HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate investors and apartment owners throughout Oregon and Washington. Build your legacy at http://www.hfore.com