Did Freddie just prove multifamily is making a comeback?
GSE has second biggest year yet
Multifamily seems to be the buzzword of January.
Every time you turn around, there is another analyst report suggesting the sun is either shining on or about to shine on multifamily properties.
Several things are driving this — rising home prices and rates, fewer qualified borrowers and a changing economy that doesn’t lend itself to younger consumers buying homes right away.
And it seems Freddie Mac’s latest multifamily update is further proof of solid activity in the space.
The GSE said Wednesday it finished 2013 with its multifamily business volume – the volume of loan purchases and bond guarantees – reaching $25.9 billion, which is the second largest volume in the firm’s history.
Freddie's biggest annual multifamily volume of $28.8 billion was recorded in 2012.