Another year is in the books, and before jumping fully into 2025, now is a good time to fully digest 2024 multifamily performance. To that end, we will be looking at 2024 performance across the metrics of new supply, apartment demand, average occupancy and average effective rent over the next few weeks. First up is…
The Sunbelt region continues see new supply overshadow a notable recovery in apartment demand. One market deserving of attention is Orlando.
Despite remaining challenges, the third quarter featured some reasons for encouragement in the industry performance data.
Elevated new supply continues to play a dominant role in industry performance. Here are the top markets nationally in new units delivered.
New multifamily deliveries will continue to drive industry performance this year because demand is not expected to catch up with supply.
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.
Looking ahead, there is reason for optimism for multifamily performance in 2024 as well as potential for further challenges.
While many markets around the country face continued new supply pressure going into 2024, there are those that are not.
