Apartments.com Publishes Rent Growth Report for Second Quarter … – Business Wire
WASHINGTON–(BUSINESS WIRE)–Today, Apartments.com – a CoStar Group online marketplace – released an in-depth report of multifamily rent growth trends for the second quarter of 2023. Supply continues to outpace demand across the country with 520,000 new units expected to be delivered by the end of the year.
“Despite positive absorption and rising renter demand, it was not enough to match the 140,000 units delivered in the quarter which pushed the national vacancy rate higher.”
“Over the past six quarters, supply has continued to outpace demand and the second quarter of 2023 was no exception,” said Jay Lybik, National Director of Multifamily Analytics at CoStar Group. “Despite positive absorption and rising renter demand, it was not enough to match the 140,000 units delivered in the quarter which pushed the national vacancy rate higher.”
SUPPLY CONTINUES TO OUTPACE DEMAND
Across the multifamily industry, supply has outpaced demand for the past six quarters and the second…
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