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.
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.
Demand Improving for Stabilized Properties
Broad improvement in demand within stabilized properties has materialized in recent months – but supply will remain a challenge.
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.
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.
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.
Improvement in Multifamily, but Challenges Remain
Looking ahead, there is reason for optimism for multifamily performance in 2024 as well as potential for further challenges.
Final Look at 2023 Price Class Performance
With 2024 right around the corner, it’s the time of year to take stock of 2023 multifamily performance and what it may portend for next year.
A Comparative Look at New Supply
A primary aspect of multifamily industry performance both last year and this year has been the effect of the new construction pipeline.