Freddie forecasts $336B of multifamily originations this year

Aug. 08, 2019 1:50 PM ETBy: Liz Kiesche, SA News Editor
  • Freddie Mac sees apartment mortgage originations rising 8% this year to an estimated $336B,  as housing demand continues to outpace supply, according to its Multifamily 2019 Midyear Outlook.
  • "Performance in the multifamily market ended 2018 much stronger than anticipated and has remained relatively healthy through the first half of 2019 despite a slower first quarter," according to the report.
  • Rent growth is expected to grow around 4% for the full year.
  • Five-plus unit multifamily completions are on pace in 2019 to exceed the last few years-- to 365K units annualized as of June vs. 345K seen in each of the past two years.
  • Assumes 2018 multifamily originations of $311B (final numbers won't be available until the fall of 2019).
  • Also assumes interest rates stay on average at ~2.2% for the rest of this year.

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