2021 U.S. Multifamily Investment Outlook
Commercial Real Estate 2021: Adapting to the New Normal;
Trends, Insights and Outlook for Multifamily Investors
Expedited homeownership transition not a major concern. Many people prioritized space and privacy after experiencing quarantine, leading to a wave of first-time home-buyers, assisted by low interest rates. The rapid increase in homebuying pushed prices up significantly, though, with new supply constrained by higher material costs and fewer existing homes available for purchase. Those with tighter budgets will be unable to meet the down-payment requirement, keeping them as renters. Economic distress could also play a factor, stalling career advancement and pressing on wage growth. Multiple-bedroom apartments may draw favor from families wanting to accommodate at-home work and schooling.