Multifamily Market Commentary
Pandemic Spurs Rising Concessions
October 12, 2020
Multifamily market fundamentals have softened since the onset of the COVID-19 pandemic earlier this year. The substantial job losses experienced across the country have greatly impacted many tenants, as well as prospective ones. At the same time, some of the nation’s largest multifamily markets have been experiencing a significant supply surge, with only specific metropolitan areas experiencing construction prohibitions, as housing construction was generally considered to be an essential activity.