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01/31/2023
2023 MULTIFAMILY COMMERICAL REAL ESTATE INVESTMENT FORECAST REPORT
Long-run Demand Tailwinds Poised to Guide Multifamily
Sector Through Near-term Choppy Waters
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https://mdglandadvisors.com/research-news
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While property performance began to soften last year, fundamentals nevertheless stand well-ahead of pre-health crisis norms. A broad-based housing shortage also bolsters the sector’s long-term prospects. To help commercial real estate investors capitalize on the unique nuances of the current climate, Marcus & Millichap presents the 2023 Multifamily National Investment Forecast
Key Features Include:
- A detailed outlook for the U.S. multifamily sector in 2023
- Metrics and analyses for 50 markets across the country
- Supply and demand forecasts for each metro
THREE FACTORS DRIVING INVESTOR UNCERTAINTY
Labor Shortage Still Substantial Despite Interest Rate Hikes And High-Profile Layoffs
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Prolonged Inflation and Rate Hikes Present Recession Risk
- Inflation and aggressive fed rate hikes have eased, making a 25 bps rate hike likely at the Feb. 1 meeting
- Although recession risk has moderated, roughly 50% of economists still expect a recession during 2023
Despite Tech Layoffs, Labor Market Still Exceptionally Tight
- Attention grabbing headlines surrounding layoffs at Microsoft, Google, and others can foster uncertainty, but the unemployment rate remains at a 50-year low
- Overall, the U.S. economy added nearly 225,000 new jobs in December, and still has over 10.5M job openings
What This Means For CRE Markets
- If the economy can avoid a major recession in 2023, a shift in sentiment could lead to a revival of apartment, retail, and industrial space demand
- Underlying data paints a more positive picture than some of the sensationalist media coverage
01/16/2023
Happy Martin Luther King Jr. Day!
01/06/2023
JUST CLOSED!
ANOTHER SUCCESSFUL MCDERMOTT GROUP LAND DEVELOPMENT CLOSING!
Fully entitled 38-Unit multifamily development located in the up and coming Boyle Heights neighborhood.
3416 E 1st St
Los Angeles, CA
Lot Size: 10,137 SF
Entitled Number of Units: 38
Potential Buildable SF 35,955
Contact MDGLA for more information on how to navigate Measure ULA, a FREE Opinion of Value for your property, or any questions:
[email protected] | 818.212.2745
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