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.
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.
New supply increased further in April, but apartment demand was unable to continue the upward trajectory that began in late 2023.
Rent growth in a majority of markets has been positive in recent months. These markets have led the improvement from a year ago.
An active construction pipeline means improvement in multifamily demand will be vital in 2024. These markets are off to an encouraging start.
With full December data not quite available, here is a look at the most expensive markets and least expensive markets to end November.
While many markets around the country face continued new supply pressure going into 2024, there are those that are not.
The San Francisco – Oakland market has been a top-performer this year among multifamily markets thanks in part to a slowdown in deliveries.
After trending downward since early summer, monthly national average effective rent growth turned negative in September.
The industry is in the midst of a new supply boom that will continue through 2024, Here are the top markets for 2023 deliveries – so far.