The multifamily sector is now firmly beyond the delivery peak of the recent supply boom. Among conventional properties with at least 50 units, more than 600,000 units were delivered nationally in 2024. Deliveries declined in 2025 and are expected to fall again this year. Falling deliveries are only part of the supply story. Strong absorption…
If you missed our latest webinar, The 2026 Pulse Check: Navigating the Multifamily Recovery Towards 2027, or want to revisit the discussion, you can watch the full replay below. Jordan Brooks, Director of Market Analytics at ALN Apartment Data, examines where the multifamily market stands in 2026, how the recovery is progressing across different markets,…
Apartment demand has strengthened substantially over the last few years. A slowdown in deliveries over the last year, coupled with further absorption increase, has allowed occupancy to improve sharply. Yet both market and effective rent growth slowed. The apparent disconnect brings an important aspect of market cycles into focus. The relationship between new supply and…
With the first half of the year complete, 2026 multifamily performance is coming into clearer view. Much of the calendar’s traditionally strongest period for leasing activity and rent growth has now passed. While the year has brought both positive and negative developments, the improvement so far owes more to slower deliveries than to pristine demand…
Apartment demand has steadily gained momentum since bottoming out in 2022. Combined with a slowdown in new deliveries, stronger net absorption has fueled the early stages of an average occupancy recovery that began in 2025. As always, significant differences exist beneath the national data at the market level. Typically, market net absorption entries in the…
The national multifamily sector entered the early phase of recovery last year. New supply peaked in 2024, apartment demand finished 2025 on a three-year uptrend, and average occupancy began to recover. Coming into 2026, average occupancy still needed further improvement, the lease concession environment was a challenge, and rent growth had yet to rebound. With…
Florida’s multifamily market offers a clear example of the recovery beginning to take shape across much of the Sunbelt. Deliveries have slowed, apartment demand has accelerated, and average occupancy has started to recover. Yet the rebound remains incomplete. Occupancy is still well below its typical range, demand continues to rely heavily on lease concessions, and…
The March and April ALN newsletters discussed slowing net absorption among seasoned stabilized properties. In this context, seasoned stabilized properties are those that stabilized at least 18 months ago. Price class offers a related but distinct lens on recent performance. Recent performance has diverged sharply across price tiers. Demand and occupancy have improved broadly but…
The first quarter of 2026 delivered a mixed but revealing set of signals for multifamily. New supply continued to ease relative to demand, but pricing power weakened rather than improved. On the other hand, rather than turning a corner, rent performance deteriorated. Conditions also varied meaningfully by market, property age and stabilization status. All numbers…
