Multifamily Sentiment Pops Back

John Tipton is an operating partner at Allen Matkins.

The multifamily market remains resilient. In the latest developer sentiment report from Allen Matkins and UCLA Anderson Forecast, which is released semi-annually, developer sentiment is strong in all of the California markets. In the previous survey, developer sentiment dipped below 50%, meaning that developers were not optimistic about the three-year outlook. This round, the market unexpectedly bounced back with sentiment above 50% in every one of the six California markets surveyed.

“I am always relatively bullish on multifamily over the long term because people need a place to sleep,” John Tipton, operating partner at Allen Matkins, tells GlobeSt.com. “Multifamily has been very strong in almost all of our surveys. Six months ago when we did this survey, sentiment dipped a little bit. The thinking at that time was that it had been so good for so long, and now it is retreating. Now, it has popped back.”