Apartment demand has strengthened substantially over the last few years. A slowdown in deliveries over the last year, coupled with further absorption increase, has allowed occupancy to improve sharply. Yet both market and effective rent growth slowed. The apparent disconnect brings an important aspect of market cycles into focus. The relationship between new supply and…
The March and April ALN newsletters discussed slowing net absorption among seasoned stabilized properties. In this context, seasoned stabilized properties are those that stabilized at least 18 months ago. Price class offers a related but distinct lens on recent performance. Recent performance has diverged sharply across price tiers. Demand and occupancy have improved broadly but…
Although improved net absorption was anticipated for 2025, the scale of the growth in realized apartment demand has been surprising. Strong demand and tapering new supply have accelerated the multifamily recovery timeline. Average occupancy gains have materialized on a widespread basis this year rather than in 2026 when that dynamic was expected to occur. There…
Despite remaining challenges, the third quarter featured some reasons for encouragement in the industry performance data.
