Nationally,
- single family is facing two opposing forces: lack of inventory/supply (no one wants to give up their 3% mortgages) and a lack of demand (due to 8% 30-year mortgage rates). But if Fed is done raising rates and they come down, this could change.
- multi-family has a lot of under-construction supply is about to enter the market, which reduces new supply ("starts")
In Nashville (source: Axios)
An influx of new apartment construction is helping to create a more hospitable market for Nashville renters.
Why it matters: Tenants have more options as the metro area's supply of apartments continues to grow while many residents struggle to buy a home.
- Many property owners have responded by tamping down rent hikes that had become commonplace in recent years.
- Meanwhile, luxury apartment complexes are rolling out new bargains.
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