Look for another round of substantial apartment completions across the U.S. in 2021. Scheduled deliveries top 2020’s already big volumes in many metros, including most of the gateway markets where rent achievement has deteriorated so much during recent months.
RealPage project-by-project information for ongoing development shows 583,280 market-rate units under construction across the country’s 150 largest metros at the end of 2020. That figure is off its recent peak by nearly 100,000 units, reflecting that building starts slowed during the course of 2020.
Read more...Lots More Apartments Are On the Way in 2021 via RealPage