Q3 Brought an End to Coasting on 2021 Multifamily Demand via ALN Apartment Data

The multifamily industry managed to ride the wave of an historic 2021 all the way through the first half of this year. Average occupancy remained higher than in the immediate pre-COVID period thanks to last year’s significant jump in occupancy. This leftover cushion allowed rent growth momentum to continue into the summer of 2022 even as national occupancy trended down from its peak in November 2021 and even as national apartment demand was dramatically lower than usual.

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