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by Collin Chlebak on February 6 2026
After attending the NMHC Annual Meeting and speaking with owners, operators and capital partners, a few clear themes emerged. The multifamily market is still optimistic as the conversation shifts from survival to what comes next.
Key Takeaways
- Construction levels have slowed, which is easing the supply surge of recent years. In markets where supply has been absorbed deals will start moving.
- Expectations are resetting between sellers and buyers and both parties seem to be motivated to get deals across the finish line.
- The Midwest and Northeast are quietly outperforming on occupancy and rent growth.
- Operational execution is top of mind. The “survive to 2025” mindset has faded, reinforcing that 2026 will be a year of decision making and strategic execution. Cough, Cough: Insurance?
- Scale is advantageous, this holds true whether you are talking to capital markets or insurance carriers. On the insurance front, our clients were rewarded by using their scale and consolidating their insurance programs. This is a trend that is already paying dividends in 2026.
What This Means
With supply pressures easing and expectations recalibrating, the market appears to be entering a more stable—though still selective—phase. As financial markets steady, careful risk management, realistic valuations, and thoughtful insurance decisions matter more than ever.
The Best Move
Now is the right time to reassess coverage, limits, and risk tolerance—and make sure those decisions align with today’s realities.
