Incredibly, another year is about to be in the books. The massive quantity of new multifamily supply this year was arguably the headline metric for 2024. Right behind, though, would be the substantial improvement in apartment demand. This year continued an upward trend that began in 2023, but on a more impressive scale. All numbers…
2024 has been an interesting year for the multifamily industry, and there have been some interesting developments at the price class level.
Was apartment demand well below average in 2023 or did the year see a big bounce back? The answer is some of both.
After seeing steady improvement throughout the spring months, national multifamily demand faltered in June.
National net absorption improved again in April after March broke the streak of negative monthly absorption at seven months.
The third quarter brought into focus the changed environment for multifamily. What can price class performance tell us about affordability?
Summer temperatures are on the rise, but apartment demand is not. A cool down that began during the winter months has persisted through June.
Rent growth continues to be strong across the price classes, but the slump in apartment demand is equally widespread.
Apartment demand dipped in January, but rent growth continued at a pace well outside the range established over the last five years.
