Rents are expected to rise at a rate of 2.8 percent, performing strongest in late-cycle markets such as Las Vegas, Phoenix and Orlando, which have reached the 4 percent mark for several months.
By IvyLee Rosario | Multi-Housing News
After a positive performance throughout 2018, the multifamily industry shows no means of slowing down. Demand is expected to stay healthy, according to Yardi Matrix’s Winter 2019 U.S. Multifamily Outlook, as long as job growth remains positive and more people turn to renting instead of homeownership.
Although the economy is showing somewhat of a slowdown, employment and consumer spending are likely to perform well once again. Although November was slower than expected, monthly employment gains reached more than 200,000 in 2018. With the labor market tightening, the biggest obstacles in 2019 will be finding candidates to fill open positions—due to the number of openings being larger than those unemployed—and wage inflation, which is continuing its positive momentum growing 3 percent or more starting towards the end of 2018.
