Freddie Mac partnered with Hanley Wood to commission the survey, which sought to determine the industry’s outlook on several factors.
These include development activity, building and construction projects, real estate management, lending and financing for products such as HUD commercial loans, which you can get from firms such as Bonneville Multifamily Capital.
Despite the bright outlook for the multifamily business, most of the survey’s respondents became more pessimistic about the prospects for affordable housing compared to their previous outlook in 2016.
Still, 60% of the respondents anticipate the multifamily market to grow in the next three to five years, while only 15% expects a slowdown.
Supply and demand served as the growth factor for almost 30% of the survey’s participants that expect growth, while 17% cited an increasing population for the industry’s development.
David Brickman, executive vice president of Freddie Mac Multifamily, said that “lifestyle preferences and demographic changes” mainly influence industry members’ strong confidence on the market.
On the other hand, the growing demand has further worsened the affordable housing crisis for many American families, which highlights a need for companies to invest more in low-cost homes, according to Brickman.