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In our continuous effort to keep you informed about the real estate market, we bring to you some crucial insights from Yardi Matrix, a leading commercial real estate analytics and research firm, and Fannie Mae (FNMA), Freddie Mac (FMCC) a government-sponsored enterprise. Yardi Matrix’s recent sector-specific report, “U.S. Multifamily Outlook: Summer 2023,” reveals that despite a potentially wobbly economy and declining sales and property values, the multifamily sector remains robust. With rent growth and nearly a million new properties expected in the next two years, the sector has shown resilience. However, the high cost of debt could lead to more defaults in the near future. According to Doug Ressler, Manager of Business Intelligence at Yardi Matrix, “Multifamily risk is some of the lowest in the industry, as opposed to office or retail. This is primarily due to the fundamental fact that people need housing and there’s a shortage of it that won’t be rectified in the near future.” The report also notes that the national housing crisis is driving multifamily demand. High mortgage rates and a drop in home sales have contributed to this trend, creating a housing shortage. This is a crisis that multifamily properties can potentially capitalize on. However, landlords should also brace for challenges. The market anticipates a surge of new supply later this year and in 2024. Over a million units are expected to be under construction within the first half of 2023, with more than 430,000 units expected to be delivered by the end of the year. According to Yardi Matrix, Austin, Dallas, Miami, Atlanta, New York, and Phoenix are expected to see the highest number of new units this year. But Ressler further clarified, “The new supply is largely concentrated in about 25 major markets.” On the financial front, the rapid increase in interest rates by the Federal Reserve and a pullback in liquidity by the banking sector have created pricing uncertainty in the multifamily market. This has led to a significant drop in transactions and mortgage origination volumes in 2023. The report states, “Property fundamentals are strong, but the increase in capital costs has injected pricing uncertainty into the market and made it difficult to complete a transaction of any kind.” Fannie Mae, Freddie Mac, and Ginnie Mae issued only $20.1 billion of bonds through mid-June, compared to $55.4 billion in the first half of 2022. Ressler anticipates two more rate increases from the Fed and suggests a “wait-and-see” approach before proceeding with transactions. Despite these challenges, Ressler remains optimistic. He foresees transaction volumes rebounding in the second quarter of 2024 as interest rate clarity and new supply flow into the market. It’s clear that the multifamily sector continues to evolve. We’ll keep you updated with the latest insights and trends. Recently, we had the privilege of hosting an insightful webinar with Jeremy Roll, a full-time passive cash flow investor with over 20 years of real estate investing experience. If you may have missed it, you can download Jeremy’s presentation. and watch the full webinar replay by signing up for our premium content.

As the multifamily industry continues to grow and evolve, networking opportunities become increasingly essential for professionals to stay up-to-date on the latest trends, technologies, and best practices. In 2023, there will be a multitude of events that cater to the needs of multifamily professionals looking to connect with peers, learn from industry experts, and gain new insights into the market. Here are the top 10 multifamily networking events you don’t want to miss in 2023: NMHC Annual Meeting – The National Multifamily Housing Council’s Annual Meeting is one of the largest and most influential multifamily events in the industry. With over 3,000 attendees, this conference offers an unparalleled opportunity to network with industry leaders, gain insights into industry trends, and attend educational sessions on a variety of topics.  Registration page: https://www.nmhc.org/meetings/calendar/nmhc-annual-meeting/ NAA Apartmentalize – NAA Apartmentalize is another prominent multifamily event that brings together industry professionals from across the country. This conference offers a range of educational sessions, networking events, and exhibits from more than 500 suppliers.  Registration page: https://www.naahq.org/apartmentalize Multifamily Technology and Entrepreneurship Conference – Hosted by the National Apartment Association, this event focuses on the intersection of technology and multifamily. Attendees can expect to learn about the latest technological advancements in the industry and connect with start-ups and established companies alike.  Registration page: https://www.naahq.org/mtec Multifamily Social Media Summit – The Multifamily Social Media Summit is a unique event that focuses specifically on the role of social media in the multifamily industry. Attendees can expect to learn about social media best practices, network with industry leaders, and gain insights into how social media is shaping the future of multifamily.  Registration page: https://www.multifamilysocialmedia.com/ Multifamily Women’s Summit – The Multifamily Women’s Summit is a one-day event that brings together women in the industry to network, learn, and grow. Attendees can expect to hear from inspiring speakers, participate in workshops, and connect with other women in the multifamily space.  Registration page: https://www.multifamilywomen.com/ AIM Conference – The Apartment Internet Marketing Conference is an event that focuses on the role of digital marketing in the multifamily industry. Attendees can expect to learn about the latest marketing trends and strategies, hear from industry experts, and network with other marketing professionals.  Registration page: https://www.aimconf.com/ Multifamily Executive Conference – Multifamily Executive’s annual conference offers a unique opportunity for industry professionals to connect, learn, and share ideas. Attendees can expect to hear from leading executives, attend educational sessions, and participate in networking events.  Registration page: https://www.multifamilyexecutive.com/events/mfe-conference/ Multifamily Leadership Summit – The Multifamily Leadership Summit is a two-day event that brings together industry leaders to engage in high-level discussions about the future of multifamily. Attendees can expect to hear from keynote speakers, participate in interactive sessions, and network with other leaders in the industry.  Registration page: https://www.multifamilyleadership.com/ Multifamily Operations Summit – The Multifamily Operations Summit is a conference that focuses on the operational aspects of multifamily properties. Attendees can expect to hear from experts in property management, maintenance, and leasing, as well as participate in networking events and educational sessions. Registration page: https://www.multifamilyoperationssummit.com/ Multifamily Investor Conference – Hosted by IMN, the Multifamily Investor Conference is an event that brings together investors, lenders, and other industry professionals to discuss the state of the multifamily market. Attendees can expect to hear from leading investors, participate in roundtable discussions, and network with other professionals in the industry.  Registration page: https://www.imn.org/real-estate/conference/Multifamily-Investor-Conference-East-2023/