The Savvy Investor’s Top 3
Here’s what apartment investors in Eastern Washington need to know this month.
WHICH CRE SECTORS WILL HAVE THE BIGGEST COMEBACK IN 2023?
Kidder Mathews CEO Bill Frame and President & COO Brian Hatcher are predicting multifamily to have a major comeback in 2023. “There’s a supply and demand issue in single-family residential in the US with about four million units underserved. So, there’s a lot of pressure to create housing and that’s the quickest way to create it on a mass scale. The effect of rising rates on multifamily is going to be short-lived.” – Bill Frame
JERRID’S NMHC TOP 3 TAKEAWAYS
Earlier this month, my partner, Jerrid Anderson, spent 3 days at Las Vegas’ National Multifamily Housing Counsel and talked with over 50 apartments investors and developers. What were his top 3 takeaways? (1) the supply of for-sale apartments is low across all markets/regions, (2) there is a buyer & seller pricing disconnect, and (3) buyers are waiting for updated sale comps relevant to current market conditions before becoming active players in the market.
NEW EASTERN WASHINGTON APARTMENT RESEARCH
Download our Q1 Eastern Washington Apartment Market Report outlining rent, vacancy, and sales throughout the entire Eastern Washington region.