Freddie Mac Multifamily’s 2025 Outlook Forecasts Increased Originations, Modest Growth in Year Ahead
Freddie Mac (OTCQB: FMCC) has released its 2025 Multifamily Outlook, forecasting an increase in originations despite market challenges. The report predicts rent growth of 2.2%, below the long-term average, and vacancy rates rising to 6.2%. Gross rental income growth is projected at 2% for 2025.
Multifamily origination volume is expected to reach $320 billion in 2024 and increase to $370-380 billion in 2025. The market shows varying performance across regions, with Sun Belt and Mountain West markets experiencing high supply levels and weaker performance, while smaller Sun Belt markets and coastal areas are expected to perform stronger.
Despite short-term pressures from high interest rates and record supply levels, multifamily remains a favored asset class due to economic strength, demographic trends, and housing alternatives.
Freddie Mac (OTCQB: FMCC) ha pubblicato le sue previsioni per il settore multifamiliare del 2025, prevedendo un aumento delle originazioni nonostante le sfide del mercato. Il rapporto prevede una crescita degli affitti del 2,2%, al di sotto della media storica, e un aumento dei tassi di vacanza fino al 6,2%. La crescita del reddito da locazioni è stimata in 2% per il 2025.
Il volume delle originazioni multifamiliari dovrebbe raggiungere $320 miliardi nel 2024 e aumentare a $370-380 miliardi nel 2025. Il mercato mostra una performance variabile tra le regioni, con i mercati del Sun Belt e del Mountain West che sperimentano alti livelli di offerta e performance più deboli, mentre i mercati più piccoli del Sun Belt e le zone costiere dovrebbero performare meglio.
Nonostante le pressioni a breve termine dovute ai tassi di interesse elevati e ai livelli record di offerta, il settore multifamiliare rimane una classe di attivi preferita grazie alla forza economica, alle tendenze demografiche e alle alternative abitative.
Freddie Mac (OTCQB: FMCC) ha publicado su Perspectiva Multifamiliar 2025, pronosticando un aumento en las origina-ciones a pesar de los desafíos del mercado. El informe predice un crecimiento del alquiler del 2,2%, por debajo del promedio a largo plazo, y tasas de vacantes que aumentarán hasta 6,2%. Se proyecta un crecimiento del ingreso bruto de alquiler del 2% para 2025.
Se espera que el volumen de origina-ciones multifamiliares alcance los $320 mil millones en 2024 y aumente a $370-380 mil millones en 2025. El mercado muestra un rendimiento variable entre regiones, con los mercados de Sun Belt y Mountain West experimentando altos niveles de suministro y rendimiento más débil, mientras que los mercados más pequeños de Sun Belt y las áreas costeras se espera que tengan un mejor rendimiento.
A pesar de las presiones a corto plazo de las altas tasas de interés y niveles récord de suministro, el sector multifamiliar sigue siendo una clase de activos preferida debido a la fortaleza económica, las tendencias demográficas y las alternativas de vivienda.
프레디 맥 (OTCQB: FMCC)는 2025년 다가구 전망을 발표하며 시장의 도전에도 불구하고 기원이 증가할 것이라고 예측했습니다. 보고서는 2.2%의 임대료 성장률을 예상하며, 이는 장기 평균 이하이고 공실률은 6.2%로 상승할 것으로 보입니다. 2025년의 총 임대 수익 성장률은 2%로 예상됩니다.
다세대 주택 기원량은 2024년에 $3200억에 도달할 것으로 예상되며, 2025년에는 $3700-3800억으로 증가할 것입니다. 시장은 지역별로 다양한 성과를 보이며, 선벨트 및 마운틴 웨스트 지역은 높은 공급 수준과 약한 성과를 보이는 반면, 소규모 선벨트 시장 및 연안 지역은 더 나은 성과를 낼 것으로 보입니다.
높은 이자율과 기록적인 공급 수준으로 인한 단기 압박에도 불구하고, 다세대 주택은 경제적 강도, 인구 통계적 추세 및 주거 대안 덕분에 선호 자산 유형으로 남아 있습니다.
Freddie Mac (OTCQB: FMCC) a publié ses prévisions pour le secteur multifamilial de 2025, prévoyant une augmentation des origines malgré les défis du marché. Le rapport prévoit une croissance des loyers de 2,2%, en dessous de la moyenne à long terme, et des taux de vacances atteignant 6,2%. La croissance des revenus locatifs bruts est projetée à 2% pour 2025.
Le volume des origines multifamiliales devrait atteindre 320 milliards de dollars en 2024 et augmenter à 370-380 milliards de dollars en 2025. Le marché montre des performances variées selon les régions, avec les marchés du Sun Belt et du Mountain West connaissant des niveaux d'offre élevés et des performances plus faibles, tandis que les marchés plus petits du Sun Belt et les zones côtières devraient avoir de meilleures performances.
Malgré les pressions à court terme dues aux taux d'intérêt élevés et aux niveaux d'offre records, le secteur multifamilial reste une classe d'actifs prisée en raison de la force économique, des tendances démographiques et des alternatives de logement.
Freddie Mac (OTCQB: FMCC) hat seine Prognose für den Mehrfamilienhaussektor 2025 veröffentlicht und erwartet trotz der Herausforderungen auf dem Markt einen Anstieg der Originierungen. Der Bericht prognostiziert ein Mietwachstum von 2,2%, was unter dem langfristigen Durchschnitt liegt, und eine steigende Leerstandsquote von 6,2%. Das Wachstum der Bruttomieteinnahmen wird für 2025 auf 2% geschätzt.
Das Volumen der Mehrfamilienhaus-Originierungen soll im Jahr 2024 $320 Milliarden erreichen und im Jahr 2025 auf $370-380 Milliarden steigen. Der Markt zeigt unterschiedliche Leistungen in den Regionen, wobei die Märkte im Sun Belt und im Mountain West hohe Angebotsniveaus und schwächere Leistungen aufweisen, während kleinere Märkte im Sun Belt und Küstenregionen voraussichtlich besser abschneiden werden.
In Anbetracht der kurzfristigen Druck durch hohe Zinsen und Rekordangebote bleibt der Mehrfamilienhaussektor aufgrund der wirtschaftlichen Stärke, demografischer Trends und Wohnalternativen eine bevorzugte Anlageklasse.
- Multifamily origination volume projected to increase to $370-380 billion in 2025
- Positive rent growth forecast of 2.2% for 2025
- Strong overall multifamily demand continues
- Expected interest rate stabilization in 2025
- Vacancy rates expected to rise to 6.2%, above long-term average
- Below-average rent growth projected
- Property prices continuing to decline
- Compressed cap rate spread below long-term average
- Record-high supply levels impacting market fundamentals
MCLEAN, Va., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Freddie Mac’s (OTCQB: FMCC) newly released Outlook forecasts multifamily originations to rise in 2025, while predicting modest rent growth below the long-term average and a slight increase in vacancy rates, which will remain above the long-term average.
Analysis in the Outlook notes that through the end of 2024, despite strong demand, record-high supply kept market fundamentals muted. Meanwhile, elevated and volatile interest rates exerted downward pressure on property values. Freddie Mac’s research indicates that despite short-term pressures, multifamily will likely remain a favored asset class over the long term due to continued economic strength, demographic tailwinds and the lack of alternative housing options.
“Overall multifamily demand has been outstanding, but some areas are feeling the impact of the highest level of new supply since the 1980s,” said Sara Hoffmann, senior director of Multifamily Research at Freddie Mac. “We expect the multifamily market to continue to see subdued but positive growth in 2025, and for origination volume to increase as interest rates continue to stabilize — albeit at a higher level.”
The Outlook forecasts disparate performance across the nation, with many of the larger Sun Belt and Mountain West markets seeing very high levels of supply causing performance to lag. Conversely, markets with lower supply levels, especially smaller, secondary and tertiary markets in the Sun Belt along with larger coastal and gateway markets, are expected to see stronger performance in 2025.
For 2025, Fredde Mac forecasts rent growth of
As 2024 came to a close, interest rates remained high and volatile, leading to a compressed cap rate spread well below the long-term average. Property prices continued to decline, but the rate of decline moderated throughout 2024. Despite higher interest rates, multifamily origination volume is expected to increase in 2024 up to
Freddie Mac Multifamily’s Outlook and additional related materials are available online.
Freddie Mac Multifamily is the nation's multifamily housing finance leader. Historically, more than
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MEDIA CONTACT: Melissa Silverman
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