Inspired by the June 10, 2025, CoStar article “Tracking the Turnaround: Where Multifamily Momentum Is Surging in the U.S.”
Market Rebalancing Underway
After a challenging few years of oversupply and rising vacancies, U.S. multifamily markets are turning a corner—and North Carolina is well-positioned to benefit.
Key trends nationally:
- Vacancy rates are declining for the first time in 3 years.
- Rent growth is poised for a comeback as new construction slows.
- Demand is strengthening across multiple regions.
Raleigh Shines as a Southeast Standout
CoStar’s new momentum index ranks Raleigh among the Top 10 U.S. multifamily markets gaining the most ground.
Why Raleigh is surging:
- One of the nation’s largest year-over-year improvements in supply relief (slowing construction pipeline).
- Corporate relocations and tech sector growth fueling demand.
- Steady in-migration as residents seek affordability and quality of life.
- Raleigh’s strong fundamentals are driving not just housing demand but also supporting retail and neighborhood shopping center performance—a double tailwind for well-positioned investors.
Southeast Strength
North Carolina’s performance mirrors broader strength across the Southeast:
- Atlanta and Raleigh lead the region in momentum.
- Florida markets also performed well, but NC offers a more balanced growth story, with lower volatility and more diversified employment drivers.
What It Means for Investors
- Raleigh continues to be a top-tier market for multifamily and associated real estate investments.
- As construction slows, existing assets should benefit from tightening fundamentals.
- Population and job growth remain core drivers—Raleigh’s economy is on solid footing.
Bottom Line
The U.S. multifamily sector is stabilizing—and in some markets, strengthening. Raleigh’s position in CoStar’s Top 10 highlights the Triangle region’s resilience and long-term opportunity.
For investors seeking durable growth, North Carolina remains a smart place to deploy capital.
Eddie Coleman, CCIM, is the Principal Investment Officer at NC Capital Group. With over 40 years of experience in Commercial Real Estate in North Carolina and South Carolina, his experience spans multifamily, retail, office, historic adaptation, etc. In addition to advising clients and brokering transactions, he has extensive knowledge of North Carolina through experience in corporate site acquisition, development, capitalization, HUD financing, etc. He holds the prestigious Certified Commercial Investment Member (CCIM) designation.