The multifamily bear case just got harder to make. 6 straight months of rent growth. National average hits $1,737. +0.7% annually. Is +0.7% exciting? No. Is the direction of travel? Yes. Here's what matters more than the headline number: → Only 31,055 units delivered in Q1 2026 — down from 80,400/quarter the past 3 years → Rental households at record highs → For-sale housing still largely unaffordable for most renters → Cap rates at 5.8% — tightest across all major property types The guys who called multifamily dead in 2024 were looking at a supply wave. That wave is breaking. The market doesn't reward people who wait for consensus. It rewards people who buy the turn. We're at the turn. #Multifamily #CRE #ApartmentInvesting #RealEstate #MMG
When deliveries were peaking, rent growth was under pressure. Now new supply is slowing, affordability is keeping renters in place, and household formation remains strong. Doesn't mean every multifamily deal works. But it does mean the conversation is shifting from survival to opportunity.