Mixed Results to Begin 2024 for Multifamily
Net absorption tripled from last year, but below recent years’ levels. Rent growth lowest for opening quarter in years.
Net absorption tripled from last year, but below recent years’ levels. Rent growth lowest for opening quarter in years.
Apartment demand improved again in the first quarter, continuing a trend of consistent incremental progress since the 2022 trough.
Rent growth in a majority of markets has been positive in recent months. These markets have led the improvement from a year ago.
Senior Market Analyst, Jordan Brooks, shares final thoughts on the March 2024 newsletter article, Positive Rent Growth in a Majority of Markets.
National monthly effective rent growth for new leases has been negative. Rent growth finally returned to the positive in February.
An active construction pipeline means improvement in multifamily demand will be vital in 2024. These markets are off to an encouraging start.
National occupancy and effective rent change both lost ground in recent months, but Midwestern markets have stood out in a positive way.
Senior Market Analyst, Jordan Brooks, shares final thoughts on the February 2024 newsletter article, January Multifamily Performance Was a Step in the Right Direction.
With spring rapidly approaching, now makes for an opportune time to evaluate how the winter period has played out.