From June 8-10, the National Multifamily Housing Council (NMHC) is holding their 2021 Annual Meeting in San Diego, California. As one of the first national industry conferences to return to an in-person format, it seems to mark the beginning of a long-awaited shift back to normalcy for many. Ahead of an enlightening week, we’re looking at some of the topics and trends we expect to hear about.
Housing stability and eviction moratoriums
During the pandemic, the Centers for Disease Control and Prevention (CDC) halted residential evictions to slow the spread of COVID-19. The CDC’s first eviction moratorium was announced in September 2020 and has since been extended three times, pushing the date back to June 30, 2021. On May 5, 2021, a federal judge vacated the CDC’s nationwide eviction moratorium order. Yet, this case went to the federal appeals court which denied the landlords’ request to resume evictions, and as of June 2, 2021, the CDC’s eviction freeze remains in effect.
Day two of the conference kicks-off with a general session entitled “Help Is on the Way: Ensuring Housing Stability with Rental Assistance,” which spotlights industry leaders, their tips for navigating state and local programs, and the impact of eviction moratoriums on multifamily operations.
Diversity across the multifamily housing industry
Between “Strengthening the Multifamily Sector through Economic Inclusion,” a general session focused on increasing diversity while maximizing industry growth, to hosting sessions dedicated to women and emerging leaders throughout the industry, the NMHC has made their commitment to diversity clear.
As partners and leaders in the industry, we recognize that it is incumbent on all of us to advance the mission of creating diverse and inclusive workspaces for the betterment of all our teams, clients, and partners. We are committed to working together to positively impact and drive change in an industry that has historically not been reflective of the diverse world in which we operate and look forward to continuing this work well beyond the conference.
Multifamily housing’s COVID-19 rebound
The NMHC’s 2021 Annual Meeting will wind down with “What a Long Strange Trip It’s Been: From the Pandemic to Recovery and Beyond,” a general session highlighting the implications of the pandemic on the apartment market.
Post-pandemic geographic migration shifts, uneven economic recovery, and the uncertainty surrounding the return to office suggest that there will be a new wave of hot multifamily markets.
Berkadia Research anticipates that investors will favor second tier gateway markets with less restrictive regulations and stimulated job growth, like Phoenix, Las Vegas, Nashville, and Atlanta. While urban properties in gateway markets are slowly bouncing back, we expect garden-style apartment projects in suburban locations to show the most progress.
Future growth and continued success
Berkadia has navigated the trials of the pandemic with a seamless transition into remote working and a commitment to advising and supporting our clients with the latest insights, data and thought leadership. Berkadia Real Estate Advisors had a record-setting start to the year, with a total investment sales volume of $5.2 billion in the first four months of 2021, with the uptick in acquisition financing leading to more than 750 loans closed in the first half of the year.
As workers find their place, whether at home or in an office, and COVID restrictions continue to lift across the nation, we’re anticipating an equally impressive second half of the year. If you aren’t able to join us in San Diego, check out some of the properties we have on the market or reach out to your Berkadia advisor for the latest.
-Berkadia Research