Homeownership has been an aspiration of generations of Americans, but elevated prices, mortgage rates, and financing hurdles are complicating the typical path to owning a home. According to the Federal Reserve Bank of New York’s 2026 Survey of Consumer Expectations Housing Survey, renters are continuing to experience difficulty with mortgage financing and have more measured views about homeownership’s current investment potential. As households reassess the housing market, rental housing demand is the beneficiary.

COVID-19 Uncertainty Slows New Investment Yet Sector Retains Resiliency
While the impact of COVID-19 contributed to a 0.9% decline in small multifamily prices in the first quarter of 2020, they are still up 5.5% from a year ago.
Chandan Economics’ analysis noted that annualized first-quarter small multifamily loan value fell to $55.2 billion, representing a 6.7% decline in lending activity compared to last year. Yet the report provides reasons for reassurance. The dependability of underlying multifamily demand and the agencies’ commitment to providing programs that maintain market liquidity support the sector’s traditional resiliency. Even with the uncertainties caused by the coronavirus, multifamily is expected to outperform other sectors.
Download the full report, “Q1 2020 Small Multifamily Investment Trends Report,” for the latest updates covering the following:
- State of the Market
- Lending Volume
- Cap Rates & Spreads
- Leverage & Debt Yields
- Economic Outlook
