Multifamily is Not Set up to Meet Demand Based on Supply Metrics

Woods of Ridgmar was acquired by a Northern California-based investment group.

DALLAS—With record low multifamily inventory on the market and backed by healthy demand, multiple offers are not uncommon in this climate. Taylor Snoddy, managing director at Transwestern, provides some insight into the multifamily market in this GlobeSt.com exclusive.

“There is minimal amount of product on the market right now–in fact, it’s the lowest we’ve seen at the start of any year during this cycle,” Snoddy tells GlobeSt.com. “The incoming presidency and recent spike in interest rates are likely contributing factors. However, buyer demand remains very healthy, as we are seeing a high amount of equity committed to deals and buyers being consistently oversubscribed. Due to the lack of offerings, we are getting multiple offers on our listings prior to placing the asset on the market.”