The U.S. multifamily market continued its historic run in the third quarter as demand for apartment units remained strong, matching a surge in new supply as developers continue to add new units at a record pace.
Total net absorption of apartment units for the third quarter held steady at almost 45,000 units. On a four-quarter basis, renters leased a robust 172,000 units, although lower than the prior 12-month period.
Read more...Apartment Demand, Rental Rates Hold Steady Against Unprecedented Supply in Healthy-But-Slowing Apartment Market - CoStar Group
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