Weathering the COVID-19 Storm

The multifamily sector was negatively impacted in 2020 from rising vacancy, declining rents, and higher concession rates due to the economic dislocation resulting from the COVID-19 pandemic. We expect a similar trend in 2021, with stabilization anticipated to commence starting in the latter part of the year. It is important to note that although the national trend is expected to remain subdued for most of the year, multifamily fundamentals and trends are also expected to vary by metro, submarket, and, in some cases, neighborhood.

Read the January 2021 Market Commentary