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CBRE Research: Is Multifamily Still Growing?

WASHINGTON DC 10.19.2017

THE FAIRFAX COUNTY STATE OF THE MARKET

Development Pipeline and Current Projects

Katherine Bonnafé -- Combined Properties
Greg Trimmer -- JBG SMITH
Alex Nyhan -- First Washington Realty
CBRE Research:  Is Multifamily Still Growing?

With all the economic rebounding, let’s put the question on the table: Is the bloom off the multifamily rose? According to CBRE’s global research and consulting group, the answer is yes... and no. Let’s start with no: Despite a rising trend of construction the market is not about to be overwhelmed with new supply. The annual pace of construction in the next five years should sprint only slightly ahead of the long-term average. That’s good news. But yes, the fantastic rent growth seen over the last few years cannot continue forever. Post-recession, production was not keeping up with demand. But now that construction is coming back to something consistent with the long-term trend, rent growth will settle into a similar longer-term trend as well. For more info on our sponsor’s Knowledge Center, click here.