Sun Belt Multifamily Demand Underperforms Over Past Two Years

To get a look at the chain of events that has led to forecasts of Sun Belt apartment market supply likely outpacing demand this year, we need to go back to the start of the pandemic. As the health crisis took hold in 2020, Sun Belt multifamily markets capitalized on their lower housing costs and milder weather to attract newly minted fully remote workers relocating from other regions.