



Multifamily housing fundamentals remain strong despite a large supply wave, with improving occupancy and rent growth. Apartment valuations have dropped 22.3% from their 2022 peak due to high interest rates, creating attractive buying opportunities with discounted prices and improving property performance. Favorable demographics and housing affordability support long-term demand, while credit availability and lender competition improve financing conditions. Investors focusing on cash flow and market selection may benefit from the current valuation reset.