At the beginning of 2016, experts had a negative outlook on the multifamily market. Predictions of high vacancies, slower price growth, and an abundance of new units made it difficult to imagine 2016 living up to the record setting levels of 2015. Fortunately, 2016 proved the doubters wrong with unit prices and sales volume setting an excellent pace.
So it’s understandable if experts are more conservative when predicting the market trends for 2017. Just know the multifamily sector has plenty of potential to continue its growth.
You can read more into the predicted market trends of 2017 in this informative article written by Mark Heschmeyer of CoStar Group Inc.
*The CoStar Group creates opportunity through combining reliable tools, resources, and understanding of millions of commercial real estate properties in today’s market.