Mulit-Housing News is out with their annual list of the top development firms building multi-family housing across the U.S. in 2022. There were some massive numbers put up by the top firms in 2022.
Top 10 firms are:
- Greystar
- The Related Cos.
- Trammell Crow Co. / High Street Residential
- LMC, a Lennar Co.
- The NRP Group
- Mill Creek Residential
- Crescent Communities
- The Bainbridge Cos.
- ZOM Living
- JPI
Despite the constant state of negative business news in general, multi-family continues to plough ahead with consistent development. From Mulit-Housing News, “Despite rising construction costs in recent years, multifamily development has maintained a strong pace. A recent supply update from Yardi Matrix predicts deliveries will exceed 420,000 units by the end of the year and expects multifamily completions to hit north of 430,000 in 2023 and more than 450,000 in 2024.”
There has been lots of doom and gloom about real estate ever since the Fed started to raise interest rates. And it may well be warranted. I suspect these deep pocked firms will be just fine and will weather whatever choppy market we face in the coming year or two.