U.S. Apartment Market
Since the third quarter of last year, annual absorptions have seen a significant and consistent increase, reaching 488,773 units by the end of Q3 2024, according to RealPage. This marks a strong acceleration in demand, with a 29.2% increase from Q2 to Q3…
Apartment Market Pulse
Apartment Market Pulse Summer 2024
By NAA Research | | Updated
U.S. Apartment Market
The year began with a remarkable increase in demand, which continued to climb through the second quarter, reaching one of its highest figures on record at about 390,000 units absorbed at an annual rate, according to RealPage. Although absorption fell short of the…
Apartment Market Pulse Spring 2024
By NAA Research | | Updated
Fundamentals are Mixed
U.S Apartment Market
The year is kicking off with an impressive surge in demand, steadily reaching its peak in the past six quarters — surpassing 317,000 annual units absorbed — a notable improvement from negative 197,000 units a year ago. Despite the…
Apartment Market Pulse Winter 2024
By NAA Research | | Updated
Navigating Challenges in 2024
In the fourth quarter of 2023, apartment demand hit its highest point since Q2 2022. In addition, annual absorption doubled from the previous quarter, amounting to about 233,700 units, according to RealPage.
Despite the substantial increase, demand was…
Apartment Market Pulse Fall 2023
By NAA Research | | Updated
U.S. Apartment Market
For the first time since Q3 2022, annual absorption was positive, signaling strong demand, with 127,130 units absorbed, according to RealPage. Quarterly market absorption rose to 90,827 units. Despite this positive growth, demand is still falling short of new…
Apartment Market Pulse Summer 2023
By NAA Research | | Updated
U.S. Apartment Market
Some promising signs emerged in the apartment market during Q2 2023. Although still running slightly negative on an annual basis, quarterly absorption reached a five-quarter high at approximately 83,000 units, according to RealPage. It was not enough to offset new…
Apartment Market Pulse Spring 2023
By NAA Research | | Updated
U.S. Apartment Market
Apartment fundamentals were off to a sluggish start in 2023. While quarterly absorption was positive for the first time since Q1 2022, it fell far short of new completions. Monthly rent growth turned from flat to positive during the quarter but continued to decelerate…
Apartment Market Pulse Winter 2023
| Updated
U.S. Apartment Market
Apartment fundamentals weakened throughout the fourth quarter with economic uncertainty prevailing, leaving many businesses and consumers largely in a holding pattern. RealPage reported negative net absorption for the first time since the Great Recession. Renewal rates…
Apartment Market Pulse Fall 2022
By NAA Research | | Updated
U.S. Apartment Market
Since 2021, apartment demand had been at record levels as people left cities for suburbs; however, in more recent months, there has been a sudden slowdown in apartment demand because of a halt in new household formation. As the economy becomes more uncertain due to inflation…
Summer 2022 Apartment Market Pulse
By NAA Research | | Updated
U.S. Apartment Market
While inflation was red-hot during the second quarter, the apartment industry showed signs of cooling. Demand for apartments dulled as Americans fear a recession is on the horizon due to highly elevated inflation, rising interest rates, supply chain challenges and Russia’s…