Western Maryland: 2023 Multifamily Year in Review

Key Takeaways:

- Western Maryland experienced a significant slowdown in multifamily investment activity in 2023, with total sales volume reaching just over $35 million. Between 2014 and 2022, these regions consistently contributed over $200 million annually in transactions.

- The Federal Reserve's tightening of monetary policy is anticipated to conclude in 2024, fueled by growing confidence in inflation control. The Fed has hinted at potential rate cuts in upcoming quarters, which may boost deal volume.

- Frederick County’s job growth continues to post gains well above Maryland and the national average, driving multifamily demand and subsequent development.

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