With strong fundamentals, new construction starts and a sizeable amount of capital on the sidelines, "now is the right time to buy" in multifamily, according to John Sebree, senior vice president and national director, Multi Housing Division, at Marcus & Millichap.
Speaking in a recent news video by his firm, Sebree said, "Occupancy remains very high, rent growth continues to be very strong, and we're dealing with a housing shortage in this country and there has been an unprecedented amount of new deliveries that have been coming to the market over the past couple of years."
From Q4 2022 through Q3 2023, new multifamily starts have dropped by over 50%, Marcus & Millichap points out.
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