Multifamily with Jonathan Rivera – July 2026

July 22, 2026

🎙️ On the Spot: What’s Really Happening in the Multifamily Market Right Now

The multifamily sector has spent the last few years absorbing one of the largest supply waves in a generation, all while interest rates reshaped how investors underwrite risk. So where does that leave valuations, rent growth, and investor sentiment heading into the back half of 2026?

In the latest episode of On the Spot, Steve Williams sat down with Jonathan Rivera to talk through what’s actually moving the needle in multifamily right now, not just the headlines.

Why This Conversation Matters for CRE Valuation Professionals

Multifamily has always been a bellwether for broader CRE health, but the current cycle has been anything but predictable. A few themes shaping the conversation:

• Supply absorption — Many metros that saw record new deliveries over the past two years are finally starting to work through that inventory, and the pace of absorption varies widely by market.
• Rent growth normalization — After the outsized gains of 2021–2022, rent growth has settled into a more modest, market-by-market pattern rather than a uniform national trend.
• Cap rate stabilization — With more clarity on the rate environment, buyers and sellers are inching closer together on pricing expectations, though a bid-ask gap still lingers in several submarkets.
• Capital markets discipline — Lenders and investors are underwriting more conservatively, putting a premium on assets with strong fundamentals and defensible rent rolls.

These are exactly the kinds of shifts that make multifamily valuation as much art as science right now, and why on-the-ground perspective matters more than a spreadsheet alone.

Watch the latest episode of Capright’s On the Spot featuring Jonathan Rivera to gain expert insights into the trends shaping the future of Multifamily.

📬 Let’s Talk

At Capright, we are uniquely positioned to support institutional investors, operators, and developers navigating this evolving environment. As an independent valuation and advisory firm, we provide clarity, accuracy, and confidence, especially where the stakes are highest.

If you’d like to discuss the findings or need support with your CRE valuation or strategy, reach out to: