Source: World Property Journal —
Based on a new report by CBRE, the U.S. multifamily sector saw strong momentum at the start of 2022, with robust demographic trends underpinning record leasing activity, rent growth and investment during the first quarter.
Investment in the multifamily sector increased by 56% year-over-year to $63 billion in Q1 2022–the strongest first quarter on record and bringing the trailing 4-quarter total to $374 billion. Multifamily accounted for 37% of total commercial real estate investment volume in Q1 2022, followed by office at 21% and industrial at 20%.
The multifamily market set a record four-quarter absorption total of 695,100 units in Q1 2022–up 12% from the previous quarter and 77% higher than the previous annual record of 393,000 units in 2000. Net absorption of 96,500 units was the highest Q1 2022 total since 2000.