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Here are the top 5 buy and sell markets for multifamily...

Right now, the multifamily market is strong nationwide, but according to Ten-X Commercial, there will be a downturn in the next three years. The top five “buy” markets are Houston, Raleigh-Durham, Salt Lake City, Fort Worth and Charlotte. Rents are up 6.1% year-over-year and its vacancy rate is down 50 basis points YoY. Rents are up 5.3% YoY and projected to continue to rise even during the eventual national economic downturn. Charlotte: Population growth near triple the national average and job growth around 2% have kept things sunny for the Charlotte multifamily market. Rents are up 6.4% YoY and projected to grow 10.2% more by 2021. On the other side of the coin, Miami, San Jose, New York City, San Francisco and Oakland are the top five “sell” markets. Though it has good fundamentals like a 2.1% rise in rents YoY, its demographic factors and pipeline are expected to take vacancies up to 6.7% and drop rents by 2.7% between now and 2021. Vacancies are projected to rise to 6% while rents fall 4% by 2021. Oakland: Oakland’s bread-and-butter, its tech sector, is slowing down, growing at 1.5%, well below its 2015, 2016 pace.