Rising interest rates are weighing on New Jersey’s multifamily pipeline, at least in the near term, but have seemingly not dampened the longer outlook for new construction.
Multifamily owners, experts debate path forward as interest rate hikes loom (SLIDESHOW)
Interest rate concerns have permeated the commercial real estate landscape in New Jersey and beyond — including the stalwart multifamily sector, which has enjoyed years of rent growth, low vacancy and strong absorption driven by wholesale demographic shifts. Investors and developers are now wrestling with how to forge ahead with deals and projects despite the uncertainty, as they wait to learn how many more rate hikes are still to come.