The multi-family market has been tight since early in this economic expansion. There were no big swings in multi-family developer expectations for the next three years for Los Angeles, Orange County, and San Diego, according to the Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey. However, in the Bay Area, developers see 2022 as having worse economics than 2019. Bay Area developers have pulled back on new development in the last six months, with half of the panelists stating that they will not start a new project in the next 12 months. Learn more at https://www.allenmatkins.com/ucla