National Multifamily Housing Council (NMHC) President Sharon Wilson Géno joins EMBREY’s first quarterly call of 2026, following the NMHC annual conference to discuss a multifamily industry cautiously recalibrating after a prolonged period of uncertainty.
While fatigue is evident across owners, operators, and developers, sentiment at the NMHC points toward renewed engagement, with debt returning to the multifamily housing market and equity partners signaling readiness to transact. Construction costs have remained relatively stable amid tariff discussions, while operators increasingly focus on centralization, technology, and scale, without losing the resident experience that produces long-term value.
Demand fundamentals remain intact. Absorption has stayed resilient despite elevated deliveries, supported by population growth and job creation, even as the multifamily construction pipeline tightens. With development timelines stretching multiple years, supply constraints could reemerge. At the same time, housing policy has moved to the forefront at federal, state, and local levels, intensifying the need for industry education, coordination, and advocacy to address affordability through increased supply, rather than restrictive measures.
For a full recap of the quarterly call, please download the attached event summary PDF, or watch a complete recording of the call in the video above. For previous EMBREY quarterly calls and whitepapers, please visit EMBREY Insights.
