Supply Down, Performance Up for Multifamily in 2026?
Apartment supply growth is set to decline to the lowest levels since 2014, and this dramatic decline should bring meaningful improvements in apartment performance. While strong GDP numbers are a compelling reason for optimism, uncertainty about the economy has limited some forecasts of multifamily performance. Even so, improving affordability in the rental market, especially when compared to homeownership costs, will support the continued resilience and positive momentum in the multifamily market.
National YoY Rent Growth Average, November 2025*
-0.51%↓
* Based on data from RealPage, Zillow, Yardi Matrix, Apartment List, and CoStar
National Occupancy Average, November 2025*
93.43%↓
* Based on data from RealPage, Yardi Matrix, Apartment List, and CoStar
3.65% ↓
3.64% ↓
Multifamily Markets and Forecasts
2026 Multifamily Outlook: Encouraging Demand Outlook Fortifies Sector Against Potential Headwinds (Marcus & Millichap)
Growing Number Of Apartment Builders Dodge Markets With Rent Control (Bisnow)
State-Level GDP Data Shows Economic Growth in Northern States (NAHB)
Student Housing Pre-Leasing for Fall 2026 Sees a Second Straight Month of Improvement (RealPage)
Multifamily and the Housing Market
The State of Renting, 2026: Affordability Is the Major Driver (Apartment List)
Housing market momentum builds as early-year indicators align (HousingWire)
Commercial Real Estate, Multifamily, and the Lending Market
CRE Valuations Normalizing – Industrial Stalls as Apartment Sector Gains Slightly in December (MSCI)
CRE CLO Market 2025: Issuance Surges to Post-COVID Record Despite Tighter Underwriting (Trepp)
Multifamily Lenders Turn to Cash Flow Models as Boom Years Fade (GlobeSt)
Top 25 Fannie Mae Multifamily Originators (CRED iQ)
CRE Market Matters: “Macro Outlook Resilience Gives Way to Renewed Momentum” (Cushman & Wakefield)
Office and Industrial Market Reports
Industrial Market Set to Pivot as Vacancy Stabilizes (Colliers)
Office Market Momentum Builds Toward Year-End (Colliers)
Jan. 2026 National Office Report: Office vacancy begins to decline (Yardi Matrix)
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