Part 2: New Supply in the Current Demand Environment
Not just Sunbelt markets could be feeling pressure from new supply in 2023, and the challenge will also not be limited to primary markets.
Part 1: New Supply in the Current Demand Environment
The interplay between new supply and apartment demand will be an issue at the forefront of multifamily performance in 2023.
Market Spotlight: Charlotte
Like many high-growth markets, Charlotte suffered from lower apartment demand and an active construction pipeline in 2022.
National Occupancy Returns to Pre-Pandemic Level
Persistently low demand and a very active construction pipeline have combined to send national average occupancy to its pre-pandemic level.
Top 5: Property Manager Turnover
2022 has been an unusual year for the multifamily industry, but one point of consistency has been active turnover for property managers.
National Rent Growth Finally Turned Negative in November
Rent growth finally succumbed to the gravity of negative net absorption in November after months of steady declines.
Market Spotlight: Tampa
Tampa was at the forefront of the multifamily recovery last year and has similarly typified the challenges of the new environment.
Checking in on the Construction Pipeline
With the end of the year approaching, it is time for a check-in on the multifamily new construction pipeline.
Growth Markets Showing Up in New Construction Data
Strong in-migration markets over the last few years are well-represented among those with the most active construction pipelines.