The National Association of Home Builders (NAHB) is expecting
a weakened multifamily construction market this year driven by regulatory and
supply-side dynamics along with slowing rent increases and higher vacancy rates.
It will be short-lived, however, stabilizing in 2022. After increasing steadily for four years, rent growth
flattened in 2020. Danushka Nanayakkara-Skillington, NAHB’s Assistant Vice
President of Forecasting and Analysis told a press conference as part of the virtual
2021 NAHB International Building Show “Due in part to pandemic-related
issues, rent growth in December 2020 was up just 0.4 percent from a year ago.”