Ashcroft Insights Market Report

Q2 2023

Last quarter our report discussed the challenges we anticipated facing in the multifamily market. As we explore Q2, our analysis of current trends makes it clear that the fundamentals remain stable for multifamily. This multifamily investment forecast is available to help investors understand their ability to capitalize on their opportunities in this current market and what to expect from the multifamily investment landscape as the year continues. 

Key Report Highlights

  • Despite the lower sales volumes, the multifamily sector experienced the highest volume of all commercial real estate sectors. 
  • Multifamily rent increases are expected to normalize in 2023. However, overall growth is projected to be upwards of 4–5%. 
  • While higher interest rates have added to the borrowing costs of multifamily properties, underlying fundamentals remain stable in 2023. 
  • Approximately 300,000 new multifamily units are expected to come online this year. 

Read our report for a thorough analysis of the industry, our outlook, and our plan to stay ahead of market challenges: 

  • Will the Federal Reserve continue to increase the federal funds rate?  
  • How will the recent drop in inflation affect multifamily housing? 
  • What do we anticipate will happen to the vacancy rate? 
  • What are the expectations surrounding cap rates? 
  • How will the cost of owning a home affect multifamily? 


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