The Freddie Mac (OTC: FMCC) Multifamily Research Group today released its multifamily real estate market demand forecast for the next several years. The paper forecasts that the demand for rental housing will remain solid through 2015.
Some highlights of the study:
- The homeownership rate will drop 1 to 2 percentage points if the current slow recovery continues.
- The single-family rental market, a growing and distinct market from multifamily, has expanded 16 percent (about 3 million units) since 2007.
- Multifamily market demand is expected to be strong through 2015 primarily due to demographic trends and a decreasing national homeownership rate.
- Rental demand will continue to grow faster than historical averages.
- Multifamily demand is likely to be 1.7 million new renter households between now and 2015 (slow growth prediction).
You can download the full report here http://www.freddiemac.com/multifamily/industry_insights.html