Top 10: Market Net Absorption
2024 apartment demand has shown robust improvement over last year, but challenges remain – not least an unrelenting construction pipeline.
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Steady Improvement at the Halfway Mark of 2024
Multifamily performance trends stabilized last year after volatility from 2020 to 2022, and 2024 has largely followed expected trajectories.
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National Net Absorption Slightly Lower in June
Apartment demand in June was another mixed bag. Net absorption bettered the June 2023 total but was slightly lower month-over-month.
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An Update on the New Construction Pipeline
New multifamily deliveries will continue to drive industry performance this year because demand is not expected to catch up with supply.
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Significant Increase in Demand Has Yet to Materialize
Monthly net absorption improved in May, but by a narrow margin. With higher demand but also higher new supply – 2024 is playing out like 2023.
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Demand Improving for Stabilized Properties
Broad improvement in demand within stabilized properties has materialized in recent months – but supply will remain a challenge.
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Supply Rose in April, Apartment Demand Did Not
New supply increased further in April, but apartment demand was unable to continue the upward trajectory that began in late 2023.
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Takeaways Episode 45
Senior Market Analyst, Jordan Brooks, shares final thoughts on the April 2024 newsletter article, Mixed Results to Begin 2024 for Multifamily.
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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.
