The New Normal for Apartment Demand
When measuring the demand for apartments, today’s rental market appears stronger than in the immediate past, but weaker than the norm going back over the past two decades. RealPage Market Analytics analyzed Q2 results and calls it a mixed bag: Nationally, absorption of about 84,000 units was an overall positive—and the largest quarterly absorption figure since Q1 last year, which also had an absorption of 84,000 units. The downside? When you go back to the 2010s, this absorption rate is about 60% of those figures. Retention rates are also down year-over-year, and traffic rates indicate renters are on the prowl for new leases.
Source: https://www.orionprop.com/
