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Special Report

2026 State of the Market - U.S. Multifamily Outlook

June 2026

Investors Find Ways Through Unprecedented Market Conditions

The macroeconomic and financial market backdrop is confounding. Public equity markets are soaring while consumer sentiment has fallen to record lows. The Iran War persists but somehow households are powering through. Stress cracks have widened. IPA’s outlook is for a robust year of apartment transaction activity. Though pace slowed over the first quarter, deals are getting closed thanks to ingenuity, persistence, and conviction that commercial apartment investment is critical in this moment of upheaval.

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